March 2020 Flash PMI: COVID-19 takes its toll on Euro Area Business Activity

Business activity in the Euro Area collapsed in March 2020, following the tough government measures intended to contain the spread of Covid-19.

IHS Markit's Composite Flash Purchasing Managers' Index (PMI) plummeted to 31.4, seasonally adjusted, which is the lowest figure ever. In February the reading was 51.6, suggesting rapid contraction of output. 

The manufacturing PMI took less deep plunge to 44.8 from 49.1 in February. The March figure was also higher than expected. Services PMI, not surprisingly, stood at the lowest level among the three indicators, diving to 28.4 in March from 52.8 in the previous month. 

More data and analysis on the COVID-19 pandemic can be found on the CEIC Coronavirus Data here. Alternatively, access the CEIC Novel Coronavirus Outbreak Monitor here.