World, As Seen from the most beautiful islands: Ireland and Cyprus

The Eurozone recovery reported – which isn’t recovery after all


Euro area economic activity is very cautiously recovering from the previous severe blows from the corona crisis, aided by the relaxation of lockdown measures. British market researcher Markit reported it. Markit previously released figures for France and Germany, which showed early signs of recovery, although there is still clear economic contraction.

The euro area manufacturing purchasing managers’ index, according to a preliminary estimate for this month, stands at 39.5 from 33.4 in April. A level of 50 or more indicates growth, below that shrinkage. Factories in Europe are slowly opening their doors again.

The index for the services sector, including tourism, retail, hospitality and aviation, rose to 28.7 from the dramatic low of April 12. Public life in many European countries is slowly starting up again and the services sector is benefiting from this. The eurozone composite industry and services index improved to 30.5 from 13.6 in the previous month.

The Markit researchers warn that there is still a very long way to go before the European economy returns to pre-crisis levels and that there will be a major economic downturn this quarter. Businesses remain pessimistic and concerned, and many jobs are still being lost due to the crisis.

Written by: Grace Kennedy

Grace Kennedy is a leading journalist, columnist of events in Ireland and beyond. 8 years in journalism, since she dropped out of university and ran away from home.

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World, As Seen from the most beautiful islands: Ireland and Cyprus

From Trinity st. to Limassol, Cyprus

Ireland and Cyprus have one thing in common. The most beautiful islands are divided. Even proportions are strikingly similar. Both nations strive for unity and a good glass of the news. More about us under the link.

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