German unemployment fell to a fresh record low of 7.6% from 7.8% in July, while the ILO unemployment index slipped to a six year low of 7.3% from a revised 7.4% reading in June. Unemployment fell by 40,000 in August, which was much larger than 10,000 decline expected by economist. Despite the improvement in unemployment, future growth prospects for Europe’s largest economy remains dim as global demands begin to cool.
