Germany's jobless total fell far more than expected in February and retail ...
BERLIN - Germany’s jobless total fell far more than expected in February and retail sales surged in January, data showed on Friday, boosting expectations that private consumption will prop up growth in Europe’s largest economy in the first quarter.
Household spending has become a key growth driver in recent years as Germans benefit from record-high employment and low borrowing costs and a GfK survey published this week showed the good mood among German shoppers was unchanged going into March. “Low unemployment, rising incomes and low interest rates are supporting consumption and housing construction,” said Joerg Zeuner, economist at KfW bank.
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