France Exacerbates Euro-Area Slowdown as China Weakness Mounts

This is a syndicated repost courtesy of Confounded Interest. To view original, click here. Reposted with permission.

Yes, there is a global economic slowdown underway, led by Europe and China.

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(Bloomberg) — The euro-area economy is closing out 2018 on a gloomy note, echoing a trend of weaker global growth from China to the U.S.

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A gauge of manufacturing and services in the euro region unexpectedly dropped to its lowest in just over four years in December. While the drop was driven mainly by France where the “Yellow Vests” movement led to a contraction, there’s also signs that underlying momentum is dropping off.

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But political turmoil alone can’t account for the weakness that has characterized the euro-area economy since early this year, with trade tensions posing a headwind to investments across the globe. In China, figures on Friday showed slowing production growth and retail sales.

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Only Macron would increase taxes on fuel as the French economy is slowing. The reaction in France was pretty clear.

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What’s the matter Macron? Chicken?

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