Investing.com – The number of unemployed people in Germany declined significantly more-than-expected in February, official data showed on Tuesday.
In a report, Germany's Federal Statistics Office said the number of unemployed people declined by a seasonally adjusted 52K in February, after falling by 18K in January, whose figure was revised from a decline of 13K.
Analysts had expected the number of unemployed people to decline by 13K in February.
The report also showed that Germany’s unemployment rate unexpectedly declined in February, falling to 7.3%, compared to 7.4% in January.
Analysts had expected Germany’s unemployment rate to remain unchanged at 7.4% in February.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD gaining 0.22% to hit 1.3837.
Meanwhile, European stock markets were up. The EURO STOXX 50 climbed 0.81%, France’s CAC 40 added 0.75%, the FTSE 100 rose 0.68% and Germany's DAX was up 0.99%.
In a report, Germany's Federal Statistics Office said the number of unemployed people declined by a seasonally adjusted 52K in February, after falling by 18K in January, whose figure was revised from a decline of 13K.
Analysts had expected the number of unemployed people to decline by 13K in February.
The report also showed that Germany’s unemployment rate unexpectedly declined in February, falling to 7.3%, compared to 7.4% in January.
Analysts had expected Germany’s unemployment rate to remain unchanged at 7.4% in February.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD gaining 0.22% to hit 1.3837.
Meanwhile, European stock markets were up. The EURO STOXX 50 climbed 0.81%, France’s CAC 40 added 0.75%, the FTSE 100 rose 0.68% and Germany's DAX was up 0.99%.