If you hear the phrase “sick man” and “Europe” in a sentence, then you probably expect to hear “France” mentioned very soon.
But increasingly that honour ought to be awarded to Italy.
In December, Industrial Production plunged 0.9% vs. expectations of no change.
Via Fast FT, here’s a chart of shriveling Industrial Production.
This is far from the only number that’s been bad.
So when will the ECB act?