UGLY French Industrial Production Number

Francois Hollande

Just another bad European datapoint.

Dow Jones:

¬†Industrial output in the euro zone’s second-largest economy fell 0.9% in March from the previous month, Insee said. Analysts polled by Dow Jones Newswires had predicted a smaller 0.2% monthly decline.¬†

January was also revised slightly downward.

France is “core” Europe in the sense that it pays super low rates, as everyone knows that it’s in the will-not-default club.

But it’s economy looks increasingly peripheraly.

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