European Capacity Cliff Dive

We've discussed the issues facing Ireland and Spain in the past, and now we'll show that things aren't much better for Italy and France. FT Alphaville reports:

French and Italians quarterly production utilization figures are out and they're not pretty.

The chart below details the percent change we've seen in capacity on an annual basis (i.e. if it was 80% and is now 70%, the decline is 10%... not a percent of a percent).