6/5/20: Eurozone Composite PMI: Covid Horror Show

Final Eurozone Composite Output Index came in at 13.6 (Flash: 13.5, against March Final: 29.7). March was bad. April is worse. Final Eurozone Services Business Activity Index was at 12.0 (Flash: 11.7, March Final: 26.4), final Manufacturing PMI covered here: https://trueeconomics.blogspot.com/2020/05/4520-eurozone-manufacturing-pmis-crater.html.

1Q 2020 implied decline in Euro area GDP is at around 3.5%. 2Q 2020 start is now worse than 1Q 2020.

3/12/2014: Euro Area PMIs: November

And we have a trend toward the *new ugly* (via Markit): Eurozone economic activity growth  signal hits a 16-month low: http://www.markiteconomics.com/Survey/PressRelease.mvc/b7b53af9b6f94a8b8c83172ba9c9bc55

Take a look at these numbers:

Ouch!.. overall growth (most likely not statistically significant) and no signal of recession, yet. But a big slowdown on Composite reading. Pace of expansion is falling:

Caveat to the above: Ireland and Spain are still robust. Italy in a strange surprise (dead-cat-bounce?) and France in a tailspin, while Germany is sliding:

More details on Ireland's performance here: http://trueeconomics.blogspot.ie/2014/12/3122014-irish-services-pmi-november.html