It was a positive start to the day for the eurozone yesterday, as Italian GDP came in better than expected, narrowly missing the expected stagnation point of 0% growth. Eurozone services and composite PMI also came in at or close to expectations.
Coronavirus fears continue to weigh on the markets, and observers have raised concerns that it could have an impact on Europe’s manufacturing sector, with drops in foreign orders and supplier delays.
The European Union has raised its coronavirus risk to ‘moderate to high’, as Italy reached fifty deaths. According to the EU Internal Markets Commissioner, Thierry Breton, European tourism revenue is facing losses of €1 billion per month, after two million fewer overnight stays since January.
