EASING LOCKDOWN. A waiter serves guests at a street cafe in Berlin, Germany, on May 15, 2020. Photo by John MacDougall/AFP
"Output and demand are still falling, but no longer collapsing," said Chris Williamson, chief business economist at IHS Markit. Jessica Hinds, European economist at independent analysts Capital Economics, said the survey"suggests that while the GDP outturn will undoubtedly be dreadful, it will not be as catastrophically bad as we had feared."
"Overall, today's data provide some reassurance that the economy is getting back on its feet," Hinds said.
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