"Double-dip eurozone recession inevitable"

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A double-dip recession for the eurozone economy is looking increasingly inevitable. That’s what a key survey shows. It says tighter Covid-19 curbs slowed down eurozone business activity in January. The survey was conducted by London-based leading information provider, IHS Markit. The firm made the conclusion based on its closely-watched PMI index. That’s an indicator of economic trends in the manufacturing and service sectors. The index was 47.5 points in January, away from the 50-point level that indicates growth. Meanwhile, the survey shows Britain’s economy is on course for a double-dip recession too. Again, that’s blamed on reduced business activity in January. It shrank due to a new lockdown and the Brexit fallout.

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