Economic activity collapses in the Euro Zone due to Coronavirus

Market data showed that the Eurozone Composite PMI fell to a record low of 31.4 points in March from 51.6 points recorded in February, its biggest drop since the survey began in 1998.

The euro zone service PMI fell to 28.4 points in March from 52.6 points recorded in February, and the euro zone manufacturing purchasing managers' index fell to 44.8 points in March from 49.2 points recorded in February.

The new orders index fell to 38.2 points in March compared to 49.4 points recorded in February, the lowest level in 11 years, and the business expectations index fell to 34.8 points in March compared to 61.3 points recorded in February