Eurozone Business Decline Slows As Lockdown Eases – PMI Survey

Private sector economic activity in the eurozone shrank further in June but the rate of decline has slowed compared to the height of the coronavirus lockdown, IHS Markit said Tuesday.

“While second quarter GDP is still likely to have dropped at an unprecedented rate, the rise in the PMI adds to expectations that the lifting of lockdown restrictions will help bring the downturn to an end as we head into the summer.” “Overall, today’s data provide some reassurance that the economy is getting back on its feet,” Hinds said.

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