May proved to be a very strong month for Germany as unemployment declined and retail sales rebounded. Unemployment fell to 7.7 percent from 8.1 percent in April, while Retail Sales ticked up by a seasonally-adjusted 1.0 percent. This contrasts sharply with the eurozone as a whole where unemployment climbed to a record high of 10.1 percent, with nearly 16 million people currently looking for work.
Source: Associated Press
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