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BERLIN (Reuters) – Real wages in Germany rose by a record 3.8% year-on-year in the first three months of 2024, the statistics office reported on Wednesday, raising hopes for a much-needed boost to consumer spending as Europe’s largest economy battles sluggish growth.
The increase was the fourth consecutive quarterly rise in real wages and the strongest jump since the office began recording the data in 2008.
Nominal wages rose in the first quarter by 6.4%, the second-highest increase on record. With inflation of 2.5% in that same period,…