The IHS Markit Purchasing Managers' Index, which measures both the services industry and manufacturing, droppedin April, according to preliminary data. In March, the same index had already recorded its biggest ever single monthly drop to. A contraction in PMI figures — a figure below 50 — indicates a likely fall in economic growth overall.
Earlier in the session, Germany's flash index came in at 17.1, a record low, versus a figure of 35.0 the month before. This was worse than analysts had been expecting with Phil Smith, principal economist at IHS Markit, saying it "paints a shocking picture of the pandemic's impact on businesses."
Public sector is Socialist with communist elements in Europe! The states are drafting laws to control private sector both on paper or by organized crimes targeting individuals!
Stock markets holding up well though
Say thanks to the lock downs for this, it will as well kill many people if not more than the virus itself....
Why shocking? Everyone expected this with the shutdown, it’s called calculated risk.