German unemployment unexpectedly declined in January for the first time in 10 months, adding to signs that Europe’s largest economy is gathering pace. The number of people out of work fell a seasonally adjusted 16,000 to 2.92 million, the Nuremberg-based Federal Labor Agency said today. Economists had predicted an increase of 8,000, the median of 31 estimates in a Bloomberg News survey showed. The adjusted jobless rate dropped to 6.8 percent, matching a two- decade low. The Bundesbank said last week the economy appears to be recovering from its fourth-quarter slump, when gross domestic product may have dropped as ... (full story)