Latest data released by Markit - 3 April 2020
- Prior 52.1
- Composite PMI 26.7 vs 30.8 expected
- Prior 51.8
The services sector suffers a record fall in activity as Markit notes that many firms were either forced to temporarily close or struggled to conduct business amid the virus outbreak and related government measures to control the spread.
Given the scale of the downturn, Markit also says that there is a high probability that the severity of the economic damage in Q2 will exceed that of the 08-09 financial crisis.
