The eurozone is heading for a double-dip recession, according to PMI surveys

By: Trademagazin editor Date: 2020. 11. 04. 11:03

The economic performance of the euro area private sector stagnated in October as the services sector was hit again by austerity measures that prevented the spread of the coronavirus pandemic, threatening a double-dip recession.

This is indicated at least by a survey of London-based financial and economic data provider IHS Markit, whose final data released on Wednesday showed that the composite purchasing managers’ index (PMI) from manufacturing and services data fell to 50.0 points from 50.4 points in the previous month. Analysts expected the same value as the preliminary data, 49.4 points. (MTI)