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German Unemployment Falls More Than Forecast

Germany's unemployment declined more than expected in August, reports said citing data from the Federal Labor Agency on Tuesday.

The number of unemployed declined by 7,000 in August from July. Economists had forecast a decrease of 4,000.

The jobless rate remained unchanged at 6.4 percent in August as expected by economists.

Data from Destatis today showed that the number of unemployed people decreased to 1.97 million in July from 1.98 million in the preceding month. The ILO jobless rate held steady at 4.7 percent in July.

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