survey began in 1998. In Germany, the services sector laid off staff at the steepest rate in about 23 years. In Spain, services activity contracted for the first time in six-and-a-half years.
Chris Williamson, chief business economist at IHS Markit, said that "with various countries stepping up their measures to contain the spread of the coronavirus," the final numbers were "no surprise." The gloomy picture adds further pressure on European leaders to address the economic consequences of the coronavirus. The pandemic, which emerged in China in late 2019, has spread all over the world and brought all major economies to a halt. In most European countries people have been stuck at home for weeks, only allowed outside to purchase groceries and medicines.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
America next
Europe mostly bankrupt… next domino to fall: banks
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coronavirus Exacts a Toll From Business Winners, TooCoronavirus is fueling heavy demand at companies from FedEx to Facebook. But more business isn’t always good business in a pandemic. Right
Source: WSJ - 🏆 98. / 63 Read more »
Hong Kong business activity slumps further in March as virus pummels economyBusiness activity in Hong Kong deteriorated further in March, a private survey showed on Friday, as demand, output and confidence plunged amid the deepening coronavirus pandemic. Theirs speculation that Trump will be invoking the Defense Production Act on DARPA funded iBio to manufacture 500 million vaccines. maybe now the middle class people in Hong Kong can afford to buy a place to live for once All the protesting had probably weakened their economy before this even hit. Just goes to show that you never know what Tomorrow holds in store for you. Just a couple of months ago our economy was blazing, and the markets didn't anticipate this. Learn wisdom from this.
Source: Reuters - 🏆 2. / 97 Read more »
Europe races to rescue its tech industry as start-ups fight for survivalEuropean countries are racing to save their tech start-ups as the region faces an impending economic downturn because of the coronavirus crisis.
Source: CNBC - 🏆 12. / 72 Read more »
Rockstar announces 5% of 'GTA Online' and 'Red Dead Online' revenues will go to coronavi... - Business InsiderThe studio behind 'Grand Theft Auto' and 'Red Dead Redemption' will donate 5% of in-game purchase revenue to coronavirus relief Way to go RockstarGames ♥️♥️♥️♥️
Source: BusinessInsider - 🏆 729. / 51 Read more »