Despite the troubles potentially facing the broader eurozone as a host of countries grapple with debt, Germany has looked internally to deal with its own problems. Its exchange traded fund (ETF) is a ways off from last high, but it may soon begin to move in the right direction if those good numbers continue.
While the PIIGS limp along, German unemployment fell at the fastest pace in more than two years in April as the number of people out of work declined a seasonally adjusted 68,000 to 3.29 million, report Patrick Donahue and Frances Robinson for BusinessWeek. On top of that, German manufacturing growth accelerated in April and business confidence jumped to a two-year high, according to recent data. [Weak Sentiment Dragged German ETF.]
The data highlights the split between Germany and its euro- region neighbors such as Greece, Spain and Portugal who are still wrestling with budget rates and mounting unemployment rates. [Can the Germany ETF Stem Its Losses?]
Eric Graydon for BBC News reports that German politicians are grappling for the lead in popularity as the May 9 elections loom. Should Chancellor Merkel’s coalition parties fail to secure a win, they would lose control of Germany’s second chamber of parliament. The outcome is anyone’s guess.
For more stories about Germany, visit our Germany category.
- iShares MSCI Germany Index (NYSEArca: EWG), down 4.1% year-to-date
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.