BERLIN (Reuters) – German unemployment dropped much more than expected in April, data showed on Tuesday, boosting hopes that private consumption will fuel growth in Europe’s largest economy this year.
Data from the Federal Labour Office showed the number of people out of work decreased by 12,000 to 2.220 million in seasonally adjusted terms. That compared with the Reuters consensus forecast for a fall of 5,000.
The jobless rate held steady at 4.9 percent, the lowest since German reunification in 1990.
(Reporting by Michelle Martin, editing by Thomas Escritt)