2 April 2020, Thursday
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Economic activity collapsed in EU by coronavirus

The purchasing managers index (PMI) for the European Union, leading indicators of economic activity have ever experienced the largest decline.

The purchasing managers index (PMI) for the European Union, leading indicators of economic activity have ever experienced the largest decline.

All major prices fall below the 50 break, which means a contraction. Trading services decreased from 52.6 to 28.4, the lowest level in 22 years. Production was not as low a listing of 39.5 in over a decade.

“Economic activity in the Eurozone has collapsed in March in a way that the decrease in the time of surpassing the global credit crisis. The PMI in March reflects contraction of gross domestic product (gdp) of 2 percent per quarter,” said Chris Williamson, Markit chief economist at IHS. The employment is in a nosedive, Williamson says in his commentary.

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