The data came as European Central Bank president Mario Draghi warned the euro would not emerge from its crisis until the second half of next year. Government spending cuts would continue to hurt growth in the short-term, Draghi said.
The unemployment rate continued its steady rise, reaching 11.7% in October, up from 11.6% the month before and 10.4% a year ago. A further 173,000 were out of work across the single currency area, bringing the total to 18.7 million.
The less competitive southern European economies, such as Spain and Italy - where governments have had to push through hefty spending cuts to get their borrowing under control, and crisis-struck banks have been cutting back their lending - have been in recession for over a year.
However, the economies of Germany and France have also begun to weaken. Growth in the eurozone’s two biggest economies came in at a disappointing 0.2%. Moreover, more recent data suggests that both core eurozone economies have continued to skirt recession during the autumn.
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reporter
Park Sae-jin
swatchsjp@ajunews.com