An unprecedented drop in economic activity was 'relatively' good news: Morning Brief [Yahoo! Finance News]
IHS Markit Ltd. Common Shares (INFO)
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Source: Yahoo! Finance News
Friday, April 24, 2020Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET.SubscribeData implying a 12% GDP decline is now good newsEconomic news has been grim.And the data are likely to get worse, even if real economic activity isapproaching its nadirBut on Thursday one economic data report that pointed to an “unprecedented” decline in activity in both the U.S. services and manufacturing sectors might’ve been “relatively” good news.IHS Markit’s flash reading on business output in Aprilpublished Thursday“Private sector firms in the U.S. signaled an unprecedented decline in business activity in April, with manufacturing and service sector companies registering marked contractions of output amid the outbreak of coronavirus disease 2019 COVID-19),” the report said. After an initial drop in this index to 40.9 in March, April’s data confirms that the bottom is indeed dropping out of U.S. economic activity.“The COVID-19 outbreak dealt a blow to the US eco
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