More recent data releases indicate that the pace of economic growth is decelerating, as the comparison base last year increases. Unemployment rises again. The slump in industry and commerce also affected the unemployment rate, one of the key obstacles to a more sustained economic growth recovery and the government s main concern. The rise in unemployment is particularly disappointing given that it is unusual during the summer season, when tending and harvesting crops drives up labour demand. However, the slump in industry, mining and commerce offset labour force increases in financial services and construction.
Inflation drops sharply.
The unexpected drop in consumer prices was caused by significant declines in food and housing prices and, to a lesser extent, by lower household equipment and clothing prices. The price declines were partially countered by higher transport and health sector prices.