30%

Finweek English Edition - - IN BRIEF -

Labour costs in Ger­many’s pri­vate sec­tor were 30% above the Euro­pean av­er­age in 2014, ac­cord­ing to a new re­port by the coun­try’s Na­tional Statis­tics Of­fice. On av­er­age, em­ploy­ers paid €31.80 (R425) an hour, com­pared with the EU’s av­er­age of €24.40 (R326.53), it said. Labour was the most ex­pen­sive in Den­mark, where wages av­er­aged €42 (R562) an hour, while Bul­garia was the cheap­est, with em­ploy­ers pay­ing €3.80 (R50.89). The rate at which the eu­ro­zone is ex­pected to grow this year, up from an ini­tial es­ti­mate of 1.3%, ac­cord­ing to the Euro­pean Com­mis­sion. The eu­ro­zone econ­omy, which con­sists of the 19 na­tions that use the euro, is fore­cast to grow by 1.9% next year, it said. The Euro­pean Union, which con­sists of 28 coun­tries, is South Africa’s big­gest trad­ing part­ner and source of for­eign di­rect in­vest­ment.

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