Europe’s PMIs Show Tight Controls Mean Deeper Recessions

(Bloomberg) -- The publication of the final PMI readings in Europe on Friday gave an early glimpse of how coronavirus containment measures are pushing economies into deep recessions. But rather than the scale of the overall shock to the European economy, it’s the variation between countries that’s telling, according to Bloomberg Economics. Globally, the depth of the downturn looks strongly related to the stringency of containment measures in place.

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