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German Unemployment Drops as Economy Brushes Off Global Slowdown
German unemployment declined in August in a sign of confidence that Europe’s largest economy will continue growing. Joblessness fell a seasonally-adjusted 7,000 to 2.79 million, the Federal Labor Agency in Nuremberg said on Tuesday. Economists had predicted a drop of 4,000, after unemployment rose in July. The jobless rate remained at 6.4 percent, the lowest level since German reunification. Germany’s economy is poised for “solid” growth, supported by both external and domestic demand, the Bundesbank predicted on Aug. 17. Business confidence has improved in the past two months even as trade risks from ... (full story)