Posted on 07/31/2009 7:21:01 AM PDT by Oldeconomybuyer
BRUSSELS — Falling prices and rising unemployment in the 16 nations that use the euro show an economy still mired in recession despite recent green shoots of recovery, according to EU statistics published Friday.
Euro-zone consumer prices fell for a second month in July as the June jobless rate rose to a 10-year high to 9.4 percent, the EU statistics agency Eurostat said.
Lower demand for energy and other goods has caused prices to plunge 0.6 percent in the year to July. That means there was disinflation in the euro-zone for a second month in a row after the year-on-year rate fell to minus 0.1 percent in June and hit zero in May.
Friday's figures dampen brighter news about the economy released earlier this week.
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I still predict Europe will be in flames within the next five years. They are simply unable to manage themselves, as they reject capitalism, Christianity, and common sense. Europe is doomed financially, ethnically, ethically, morally, and will soon be enveloped in colossal war. Count on it.
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