I do not commonly cover Eurozone PMIs, but April read-out is shocking. Truly, abysmally, shocking.
From Markit release:
- Final Eurozone Manufacturing PMI at 33.4 in April (Flash: 33.6, March Final: 44.5), so down 11.1 points m/m
- March was bad - at 44.5 well below the zero growth line of 50.0. April came in woefully bad.
- Confidence sinks to record low and job losses mount
- This was "the lowest ever recorded by the series (which began in June 1997), surpassing readings seen during the depths of the global financial crisis".
I have covered BRICS and Global Manufacturing PMIs for April here: https://trueeconomics.blogspot.com/2020/05/4520-bric-manufacturing-pmi-april.html.
