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Coronavirus lockdown plunges French services into record slump - PMI


IHS Markit’s overall PMI index, which includes services and already published data from the manufacturing sector, fell to 11.1 from 28.9 in March, marginally worse than the 11.2 originally reported. The lockdown, in place since mid-March, is due to be lifted from next Monday, but some restrictions will remain in place, leaving little prospect for a quick recovery for most firms. “Any return to long-term growth rates might be gradual, with consumers taking time to overcome hesitancy surrounding public health before they resume their previous spending habits,” IHS Markit economist Eliot Kerr said.

Reuters UK - May 6, 2020

View the full story here: https://uk.reuters.com/article/uk-france-economy-pmi/coronavirus-lockdown-plunges-french-services-into-record-slump-pmi-idUKKBN22I0WJ