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Reuters
The collapse of the industrial sector in the euro zone in April with the outbreak of the crown.
Today’s survey showed that the eurozone’s industrial sector collapsed last month after governments imposed measures to stop the spread of the new Corona virus, forcing factories to close and consumers to stay at home.
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The final reading of the euro zone manufacturing purchasing managers’ IHS Market index fell to 33.4 points in April, from 44.5 points in March, the lowest since the polls began in mid-1997.
The 50-point level separates growth and contraction.
Chris Williamson of IHS Market said: “The eurozone industrial sector fell in April at a rate that outpaced any previous decline in the 23-year history of purchasing manager surveys, due to factors including factory closings on a large scale, falling demand and short supply. ” And this is all related to the Covid-19 outbreak.
The drop came despite the European Central Bank’s policy of monetary easing and unprecedented fiscal stimulus from governments to help the pandemic economy.
Source: “Reuters”
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