German jobless total falls more than expected in Dec

BERLIN: Germany's jobless total fell more than expected in December and the unemployment rate hit a record low, data showed on Wednesday, reflecting the strength of a labour market that continues to propel a consumption-led upswing.

Data published by the Federal Labour Office showed the seasonally adjusted jobless total dropped by 29,000 to 2.442 million. That was more than double the predicted drop of 12,000 forecast in a Reuters poll.

The unemployment rate stood at 5.5 percent in December and the November reading was revised to the same reading which is the lowest level since German reunification in 1990, it said.

The solid labour market is likely to continue supporting a consumption-led growth cycle in Germany in which a rebound in exports and increased company investments have recently kicked in as additional growth drivers.