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Feb 07 2013

Eurozone Unemployment and Consumer Spending

With its unemployment rate holding at a record high of 11.7% in December, joblessness continues to bedevil the Eurozone, which remains mired in recession.

Given the persistent labor market weakness faced by the consumer, it makes sense that Eurozone retail sales growth has lingered in negative territory for months. Against this backdrop, ECRI’s latest analysis reviews the cyclical drivers of unemployment and consumer spending, indicating whether the twin tides of rising joblessness and worsening spending growth are set to turn anytime soon.