BERLIN: German unemployment unexpectedly rose in September, in a sign of concern among businesses over an economic slowdown and the consequences of Britain’s decision to leave the European Union.
The surprise gain in the number of jobless adds to evidence that Europe’s largest economy may be losing its momentum. The Bundesbank this month toned down its outlook, saying it expected growth to slow in the third quarter, and a composite Purchasing Managers Index published Friday dropped to a 16-month low, with the services sector almost stagnating. European Central Bank President Mario Draghi has signaled that the country should use its “fiscal space” for stimulus.
