Germany recorded approximately 1.46 million job vacancies during the fourth quarter of 2018, a record high, and an increase of 221,000 when compared to the previous quarter, according to data from the Federal Employment Agency’s Institute for Employment Research (IAB).

The IAB showed that job vacancies in the fourth quarter of 2018 were divided into about 1,134,000 in western Germany and about 325,000 in eastern Germany during the fourth quarter of 2018. 

Despite Germany’s labour market remaining robust, new data published by the ZEW Institute, which measures economic sentiment, showed that Germany, Europe’s largest economy, recorded an increase of 1.6 points in February 2019, and now stands at -13.4 points. Although the indicator has improved slightly, it is still in negative territory and remains well below the long-term average of 22.4 points.

Meanwhile, a separate gauge measuring investor assessment of current conditions fell to 15.0 from 27.6 in the previous month.

“At the moment, we do not expect a rapid recovery of the slowing German economy,” ZEW President Professor Achim Wambach said. “The economic situation in Germany has been weak, especially in the manufacturing sector. The figures for industrial production have once again seen a decrease, incoming orders are stagnant and foreign trade currently provides no fresh impulses. All of this is reflected in the fact that the assessment of the current situation has experienced a considerable decline. For the next six months, the financial market experts in our survey do not expect any improvement.”

According to Reuters, record-high employment in Germany as well as rising real wages and low borrowing costs are expected to support consumer spending in the coming months. That should provide a buffer against external risks, such as Britain leaving the EU without an agreement and the US imposing higher tariffs on cars from Europe.