Europe 'Inevitably' Heading Towards Double-Dip Recession, PMI Survey Finds | WHAT REALLY HAPPENED

Europe 'Inevitably' Heading Towards Double-Dip Recession, PMI Survey Finds

The Purchasing Managers' index (PMI) reflects economic trends in the manufacturing and service sectors. A PMI below 50 points indicates a downturn of economic activity. The Eurozone's PMI for December sank to 49.1 amid new lockdown measures imposed to halt the spread of the coronavirus.

A double-dip recession in Europe seems an "increasingly inevitable" prospect, a PMI survey conducted by Markit Economics revealed on Friday.

According to preliminary estimates, the Eurozone's PMI tanked to 47.5 in January, down from 49.1 registered in December.

Comments

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA