In February, Germany has seen a slight upbeat piece of data opposed to the gloom that haunted the nation since the beginning of the weak. The unemployment changed in February increased by 7 thousand followed an upside revision to the previous to 5 thousand from 6 thousand.

The numbers we much better than the anticipated increase by 16 thousand which has would increased the fears further about the recovery, especially that the fourth quarter's economic standstill was strongly driven by the drop in consumer spending. Unemployment which was expected to remain unchanged at 8.2% in fact did, yet considering the revision to January's estimate lower to 8.1% unemployment would have increased!