Analyst warns of euro crisis return
The euro zone economy has passed another bleak milestone.
Official figures showed that unemployment rate across the 17 European Union countries hit a record 12 percent for the first time since 1999.
Eurostat said the rate in February was unchanged from the previous month.
Greece has the highest jobless rate, followed by Spain.
The lowest rates was in Austria.
The February data is a further confirmation of the underlying weakness of the euro zone.
manufacturing data showed the slump deepening sharply as even Germany was dragged down.
The Markit Euro zone Manufacturing Purchasing Managers Index fell to 46.8 points last month.
A reading below 50 indicates a contraction in the sector.
MORE BUSINESS NEWS
Latest Photo Galleries on xinmsn
The Ukrainian resort town of Sjedove on the Azov Sea has become a refuge for people fleeing the deadly combat in the east of the country. Du... More The Ukrainian resort town of Sjedove on the Azov Sea has become a refuge for people fleeing the deadly combat in the east of the country. Duration: 00:58
Date 28 mins ago, Duration 0:58, Views 0