Economic News from Around the World

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(Best Syndication News) There was important economic news from Canada, Germany and Japan so far this week.

Germany

Unemployment in Germany dropped in May, according to data released by the German Statistics Office. “Employment and unemployment in Germany continued their favourable trends in April 2011”, the office said in a statement today.

There were 40.68 million people employed in Germany, over one-half million more than one-year ago. There are still 2.54 million people were unemployed.

Their Federal Statistical Office said that “retail turnover” in April was 5.1 percent higher than the previous year.

This helped push stocks higher in Germany. Early Tuesday the DAX was up 156.89 points (+2.19%) to 7,317.19.

Canada

An expansion of exports helped lower the Canadian first quarter deficit with the rest of the world by $1.4 billion. “The overall surplus on the trade in goods widened in the first quarter to $1.7 billion, up $1.3 billion from the previous quarter,” the government said in a statement Monday. “Trade with the US accounted for all of the gains, as the goods deficit with other countries increased in the quarter.”

The Canadian real gross domestic product (GDP) advanced one percent in the first quarter 2011. There was a 0.8 percent increase in the previous quarter.

Business investment in plant and equipment increased 3.2 percent. Investment in machinery rose 3.7 percent and imports rose 2.2 percent. Imports were up 2.1 percent in the fourth quarter of 2010.

Only the art, entertainment and recreation sectors shrank.

“Expressed at an annualized rate, real GDP in the first quarter grew 3.9%, after expanding 3.1% in the fourth quarter of 2010,” the Canadian government said. “By comparison, real GDP in the United States grew 1.8% in the first quarter.”

Japan

The Japanese unemployment rate for April came in at 4.7 percent, according to the Ministry of Health, Labor and Welfare. “The number of employed persons in April 2011 was 59.94 million, an increase of 70 thousand or 0.1% from the previous year”, the statistics bureau said Monday.

By: Dan Wilson

Above Image: Growth in Canada Domestic Product outpaces that of final domestic demand

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