Germany's unemployment fell more than expected in February despite signs of a slower growth for Europe's biggest economy in 2008, the Federal Labour Agency said Thursday.
The number of jobless in Germany dropped in February by 75,000 to 3.336 million in seasonally adjusted terms, said the agency. Analysts had predicted a fall of 53,000 this month.
The country's unemployment rate dipped to 8.6 percent in February, down from 10.2 percent in the same period last year.
The agency's report came days after a key survey showed that German business confidence rose in February despite concerns over financial turbulence abroad, especially in the United States.
The Munich-based Ifo institute said Tuesday that its business climate index, based on a survey of 7,000 business leaders, increased to 104.1 from 103.4 in January.
However, German consumers have been tightening their belts amid concerns over high oil prices and domestic inflation.
According to the Federal Statistics Office, German consumer spending reduced 0.8 percent in the fourth quarter last year compared to the previous quarter.
Last week, Ifo brought down its 2008 growth estimate for Germany to 1.6 percent from 1.8 percent.
Source: Xinhua
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