Weekly Economic and Financial Commentary – 27 April, 2020
The Eurozone and US economy suffered the steepest falls in business activity and employment during April as a result of measures taken to contain the coronavirus outbreak. Recently released April flash PMI data by IHS Markit showed both the Eurozone and US composite PMI declined to 13.5 and 27.4 from 29.7 and 40.9 points in March respectively.
The Eurozone services PMI witnessed a material shock, with the number falling to an historic low of 11.7 from 26.4 in March, while the US services number also declined to 27.0 from 39.8 in March…
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