Mexican Media Brands
U.K. Economy Contracts, German Job Losses Mount
The U.K.'s gross domestic product shrank 0.3% in the first quarter of 2012 compared to the previous three months, the Office for National Statistics says.
#workforcedevelopment #economics
Share
The U.K.'s gross domestic product shrank 0.3% in the first quarter of 2012 compared to the previous three months, the Office for National Statistics says.
The bureau revised its fourth-quarter estimate to a 0.4% contraction from the 0.3% decline previously reported.
U.K. manufacturing output slid 0.3% in the January-March period, and consumer spending dipped 0.1%. Despite the government's austerity efforts, public sector spending rose 1.9%, the fastest pace in nearly seven years.
Separately, 7,000 people in Germany lost their jobs last month, thus bringing the country's total to 2.88 million unemployed workers, according to the Federal Labor Agency.
June marked the fourth straight month-on-month worsening in the country's job market. Germany's unemployment rate held steady at 6.8% this month.
RELATED CONTENT
-
Creating the C-HR
Yes, this is a Toyota. A production crossover. One that will clearly appeal to those who are wondering where Scion has gone.
-
Bill Ford Describes Trump Meeting Over Mexico Jobs
Ford Motor Co. Chairman Bill Ford reveals he met with Republican presidential candidate Donald Trump a few months ago to discuss Trump’s “infuriating” comments about the company’s activities in Mexico.
-
Just In: Ed Welburn to Retire; Mike Simcoe Gets New Job
There are a lot of good people in the auto industry.