German wage settlements in the first half of 2008 reached significantly higher levels than in previous years, Federal Statistics Office data showed Friday.

Negotiated wage settlements were frequently above 4%, the office said, pointing to important deals in the steel and chemical industries.

The figure compares with settlements of around 3% in the first half of 2007.

The office said it is unable to provide the average volumes of the wage deals which makes the underlying trends harder to compare.
Source: http://www.djnewswires.com/eu

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