Europe

New European Recession Coming?

Unemployment in the zone is above 11 percent and manufacturing had its worst quarter since the 1930s

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Unemployment in the eurozone remained becalmed at a record 11.4% in August while manufacturing put in its worst quarterly performance in Q3 since the great depression.

The Markit survey also indicated that after factory output stumbled in the peripheral countries, that trend has now spread to France and Germany.