Eurozone economy starts to rebound in May
Thursday, 06 04 2020, Category: Economy, Country: Europe
The eurozone’s economy is slowly bouncing back from the most severe contraction on record, according to final purchasing manager index (PMI) numbers for May, published on Wednesday.
The IHS Markit composite index, which covers manufacturing and services, rose to 31.9 in May, up from 13.6 in April as coronavirus lockdowns were gradually eased and the region’s economy started to pick up. The figures show the eurozone’s economy is still contracting, but at a slower pace as a reading below 50.0 signifies shrinkage of economic activity.