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The ECB Is in For a Coronavirus Shocker
It was the calm before the storm. Last week, new data showed that the euro zone economy had seen an encouraging rebound in February, as activity in the services sector expanded strongly, while manufacturing slowed less than expected. However, the disruptions from the new coronavirus epidemic look set to hit the region’s businesses hard, especially as the number of cases outside of China grows. The European Central Bank and euro region finance ministers have seemed oddly sanguine in recent weeks, but that’s likely to change soon. According to data published on Friday, the composite purchasing managers index — a ... (full story)
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