New data is out from Europe and it’s ugly.
Euro zone unemployment was a record-high 12.2% in September. August’s number was revised up to 12.2% from an earlier estimate of 12.2%
Economists were hope for a 12.0% rate.
Spain’s unemployment rate stood at a horrific 26.6%, and Italy’s climbed to 12.5%.
Germany, on the other hand, saw its unemployment rate slip to 5.2%.
The youth unemployment rate climbed to 24.1% from 24.0%.
Meanwhile, inflation in the area came in at 0.7% year-over-year, which was much lower than the 1.1% expected by economists..
Business Insider Emails & Alerts
Site highlights each day to your inbox.