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COVID-19 lockdown leads to record contraction in German economy
The decline in business activity across Germany deepened in April, with both services and manufacturing seeing record decreases in output as a result of the COVID-19 pandemic and subsequent lockdown, latest ‘flash’ PMI® survey data from IHS Markit showed. The headline Flash Germany Composite PMI Output Index registered 17.1 in April, down sharply from 35.0 in March and by far its lowest reading since comparable data were first compiled more than 22 years ago. The preliminary data were based on responses collected between April 7-22. The survey response rate was not affected by shutdowns caused by the COVID-19 ... (full story)
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