The awful economic data for April is here, and it's gut-wrenching [CNNMoney.com]
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Source: CNNMoney.com
'Welcome to the house of horror': The awful economic data for April is here A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here . London (CNN Business) Economists and investors had been bracing for dismal economic data for this month. But the latest readings of the closely-watched Purchasing Managers' Index, which surveys senior executives at private sector companies, are gut-wrenchingly awful. The numbers: The eurozone composite PMI, which tracks activity in the manufacturing and services sectors, hit 13.5 in April, down from 29.7 in March — easily the worst reading since the survey started in 1998. It's a sign of the extent to which Europe's economy has imploded as shutdowns to prevent the spread of the novel coronavirus hit citizens from Berlin to Paris and Amsterdam. The lowest reading during the global financial crisis was 36.2 in February 2009. Readings below 50 indicate that activity is shrin
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Sec Filings
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