Economic Activity in the Euro Area Continues to Deteriorate

The COVID-19 pandemic and the measures to contain the outbreak continue to take their toll on the economic activity in the Euro Area. The flash estimates of the Purchasing Managers’ Index (PMI) suggest that April is yet another month of business activity virtually brought to a halt. 

The Composite PMI plunged to 13.5 compared to 31.4 in March 2020. The situation with the Services PMI is even more severe, with the indicator diving to 11.7 from 28.4 in March. Manufacturing PMI, on the other hand, stood at 33.6 in April compared to 44.8 in March. All the three indicators are below the 50 mark, which divides growth from contraction.

Detailed data and analysis on COVID-2019 and its economic impact can be found in CEIC’s COVID-19 Outbreak and Impact Monitor.