German unemployment falls for fifth consecutive month in February

German unemployment fell for a fifth consecutive month in February in line with estimates, data from the Federal Labor Agency showed on Tuesday.

The number of those without jobs dropped a seasonally adjusted 10,000 to 2.72m last month, as expected by analysts. The jobless rate was unchanged at 6.2%, which was also anticipated.

“Another solid report confirming that the German labour market is incredibly strong,” according to Pantheon Macroeconomics.

“Seasonally adjusted unemployment has declined by 58,000 in the past four months, but we are wary that unusually warm weather partly are to blame.”

Bundesbank President Jens Weidmann said last month that the economy is was in good shape, as household spending has been given a boost by lower energy prices.

The European Central Bank has been considering whether to expand its asset purchase programme to help recovery in the Eurozome amid prolonged low inflation. The ECB next meets on 9-10 March.