Italy's unemployment rate rises in July

The economic data of the Euro zone's third wealthiest country continued to disappoint as its jobless percentage rose in July. The Italian unemployment increased from 12.3% to 12.6%, which is a further indication of the distress in the economy. Other signs of it were shown previously as Italy's GDP lost an annualized 0.2% last quarter and retail sales contracted 2.6% for the year last month.