Economics
Euro Area’s Post-Lockdown Revival Still Leaves Long Road Ahead
- Composite PMI increased to 47.5, but huge risks remain
- IHS Markit expects economy to shrink by more than 8% this year
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The pick up in euro-area economic activity after the lifting of lockdowns in June is doing little to change the picture of a long, slow recovery and rising unemployment.
The latest Purchasing Managers Indexes from IHS Markit showed an economic rebound underway, with French data unexpectedly signaling expansion for the first time in four months. But new business in the region continued to fall, employment declined and companies had to cut prices to help sales.