Double-dip Europe Recession 'increasingly Inevitable': PMI

A slowdown in eurozone business activity accelerated in January, making a new recession almost certain as the Covid-19 pandemic continues to batter the economy, a key survey showed Friday

Brussels, (UrduPoint / Pakistan Point News - 22nd Jan, 2021 ) :A slowdown in eurozone business activity accelerated in January, making a new recession almost certain as the Covid-19 pandemic continues to batter the economy, a key survey showed Friday.

"A double-dip recession for the eurozone economy is looking increasingly inevitable as tighter Covid-19 restrictions took a further toll on businesses in January," Chris Williamson, chief business economist at IHS Markit, said.

The firm's closely watched PMI index fell from 49.1 points in December to 47.5 points this month, further away from the 50-point level which indicates growth.

IHS Global Insight MARKIT