Euro zone business activity collapses in March as coronavirus spreads: PMIs [Reuters]
IHS Markit Ltd. Common Shares (INFO)
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Source: Reuters
Euro zone business activity collapses in March as coronavirus spreads: PMIs LONDON (Reuters) - Euro zone business activity has crumbled in March as the coronavirus pandemic sweeping across Europe and the world wreaks havoc and shops, restaurants and offices pull down the shutters, a survey showed on Tuesday. IHS Markit’s Euro Zone Composite Flash Purchasing Managers’ Index (PMI), seen as a good gauge of economic health, plummeted to a record low of 31.4 this month from February’s 51.6, by far its biggest one-month fall since the survey began in mid-1998. That reading was below all forecasts in a Reuters poll which had a median prediction of 38.8. “Business activity across the euro zone collapsed in March to an extent far exceeding that seen even at the height of the global financial crisis,” said Chris Williamson, chief business economist at IHS Markit. “Steep downturns were seen in France, Germany and across the rest of the euro area as governments took increasingly tough measures to
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