Eurozone PMI Signals Easing Economic Downturn

The euro area private sector remained stuck in its deepest downturn ever in May, but the pace of decline slowed as the economy began to partly emerge from the coronavirus lockdown, flash survey results from IHS Markit showed Thursday. The composite output index rose to 30.5 in May from a record low 13.6 in April. The score has remained below 50 no-change mark.