Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
dpa

HOME > dpa

Purchasing power of German workers rises again

July 03, 2019


Abstract : The purchasing power of workers in Germany has increased further in the first quarter of 2019. Adjusted for inflation, people had 1.2 per cent more money in their pocket than the year before, according to data released by the Federal Statistical Office on Monday.

Exterior view of the Karstadt department store on Kurfuerstendamm. (picture alliance/ZB/archive)

Real wages have increased yet again for workers in Germany - good news for the currently flagging economy.

The purchasing power of workers in Germany has increased further in the first quarter of 2019. Adjusted for inflation, people had 1.2 per cent more money in their pocket than the year before, according to data released by the Federal Statistical Office on Monday.

This continues an upward trend in real wages that has endured since the beginning of 2014. Real wages have steadily increased also on a yearly basis, rising by 1.3 per cent in 2018, according to the Wiesbaden-based agency.

Only in 2013 was there a marginally negative result at minus 0.1 per cent. On a quarterly basis, the real wages last declined in the fourth quarter of 2013, also by 0.1 per cent.

In nominal terms, workers earned around 2.5 per cent more on average in the first three months of this year than the same quarter in 2018, including special payments. But more than half of these nominal wages - the gross monthly earnings including special payments - were eaten up by inflation, with consumer prices increasing by nearly 1.4 per cent.

The fact that many workers nevertheless had more money available at the end of the day boosts their purchasing power and can stimulate consumption. Private consumption currently is the most reliable pillar of the German economy. Thanks to the positive conditions in the labour market and increased earnings, people continue to be in a buying mood, according to consumption experts at the Growth from Knowledge (GfK) research institute.

Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.

Scan the QR code and push it to your mobile phone

Keyword: Germany purchasing power wages

Reading:

China's first oil and hydrogen station opens in Guangdong

Interview: Huawei investment welcomed in Malaysia: Malaysian finance minister

China Focus: Global manufacturers benefit from cooperation, open market

China's service outsourcing grows in first five months: MOC

German furniture firms to build manufacturing base in China

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial