This Manufacturing Report From France Is Just Plain Ugly
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This is bad for
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We've been getting
The Spanish and Italian numbers have been quite nice actually. But France? Really ugly.
According to Markit, the manufacturing sector has hit a 7-month low, dropping from 48.4 in November to 47.0 in December. You can just see on the chart how sickly the sector is.
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The fact that France is doing so badly while other peripheral countries are outperforming and the world economy gets better generally is a strong point in favor of the argument that there's something deeply wrong with the French economy.
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