Placeholder Image

Subtitles section Play video

  • economic activity in the eurozone shrank significantly in January.

  • Lock down restrictions to contain the pandemic hit the blocks.

  • Dominant service industry, particularly hard hospitality venues, have been forced to close across much of the continent, prompting a sharp contraction in I h s markets PM I survey on Friday.

  • Overall, the survey scene is a good guide to economic health fell further below the 50 mark, separating growth from contraction, hitting 47.5 in January.

  • That was down from December's 49.1.

  • Chris Williamson, chief business economist at I H S Market, said a double dip recession for the eurozone economy is looking increasingly inevitable.

  • A PM I covering the service industry dropped to 45 from 46.4, but the survey revealed manufacturing remained strong as factories largely remained open.

  • The manufacturing PM I held well above break even at 54.7, albeit slightly weaker than December's figure, a Reuters poll this week showed The bloc's economy is expected to grow north 0.6% this quarter and will return to its pre crisis level within two years on hopes the rollout of vaccines will allow a return to some form of normality.

economic activity in the eurozone shrank significantly in January.

Subtitles and vocabulary

Operation of videos Adjust the video here to display the subtitles

B1 survey pm eurozone contraction january manufacturing

Euro zone activity shrank in January, services hit

  • 1 0
    林宜悉 posted on 2021/01/23
Video vocabulary