Eurozone PMI Plummets to 31.4... Impact of COVID-19 Becomes Clear

Published 24 Mar.2020 18:28(KST)

[Image source=AP Yonhap News]

[Asia Economy Reporter Kim Eunbyeol] The Eurozone (19 countries using the euro) recorded a composite Purchasing Managers' Index (PMI) of 31.4 in March, according to financial information firm IHS Markit. This is a sharp drop from 51.6 in February and falls short of experts' expectations (38.8).

A PMI above 50 indicates economic expansion, while below 50 signifies contraction.

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As the novel coronavirus infection (COVID-19) spreads across the European continent, the impact on the European economy is beginning to appear in the indicators.

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