Services are the worst hit from coronavirus

Services Dive to the Lowest Levels Ever in Europe

Posted Thursday, April 23, 2020 by
Skerdian Meta • 1 min read

After two years of the trade war between US and China, which hurt the global economy, we saw some light at the end of the tunnel after the Phase One trade deal which improved the sentiment. Then came coronavirus and everything went down the sink hole.

Manufacturing and services fell into deep contraction in March as the virus broke out in Europe and in April, things have gone from bad to worse, as the lockdown continues. Services have fallen to record lows and are heading towards 0 points. Let’s hope things start to improve in May, Below are the manufacturing and services reports from France, Germany and the Eurozone as a whole:

Germany April Flash Manufacturing PMI

  • April flash manufacturing PMI 34.4 vs 39.0 expected
  • March manufacturing stood at 45.4 points
  • Services PMI 15.9 vs 28.0 expected
  • March services stood at 31.7
  • Composite PMI 17.1 vs 28.5 expected
  • March composite PMI stood at 35.0

France April Flash Services Report

  • April flash services PMI at 10.4 points vs 24.5 expected
  • March services stood at 27.4 points
  • Manufacturing PMI March at 31.5 points vs 37.0 expected
  • March manufacturing stood at 43.2 points
  • Composite PMI 11.2 vs 24.5 expected
  • March composite PMI stood at 28.9 points

Eurozone April Flash Services PMI

  • Eurozone April flash services PMI 11.7 vs 22.8 expected
  • March services stood at 26.4
  • Manufacturing PMI 33.6 vs 38.0 expected
  • Manufacturing PMI March at 44.5
  • Composite PMI 13.5 vs 25.0 expected
  • March composite PMI stood at 29.7
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