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German Unemployment Falls as Domestic Economy Shows Strength
German joblessness fell for a fifth month in February in a sign that economic momentum will continue to be underpinned by household spending. The number of people out of work declined by a seasonally adjusted 10,000 to 2.72 million, data from the Federal Labor Agency in Nuremberg showed on Tuesday. That matched the median estimate in a Bloomberg Survey of economists. The jobless rate was unchanged at 6.2 percent, the lowest level since German reunification. The reading bolsters the likelihood that domestic demand will support German growth even as a China-led emerging market slowdown curbs exports. Bundesbank ... (full story)