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
-
on Plenty of Things about Volkswagen & Other Topics, Too
On VW’s Project Trinity, transformation of product development and the interior of the ID.Buzz; new buses of interest; carbon fiber for wheels and accessories (non-automotive); and Aston Martin’s EV battery
-
Ford Details Plans to Refurbish Detroit Train Station
Ford Motor Co. says the centerpiece for its new advanced-mobility campus in Detroit’s historic Corktown district will be the former Michigan Central train station.
-
FCA Cuts 1,300 Jobs at Small-Car Plant in Michigan
Fiat Chrysler Automobiles NV is eliminating one of two production shifts at its small-car factory in Sterling Heights, Mich., because of slumping sales.