Saturday August 8, 2020

Covid-19 ‘has caused faster downturn than 2008 crash’

Figures suggest policymakers’ efforts have ‘failed to brighten the darkening picture’, says senior economist

Aaron Rogan

News Correspondent

24th March, 2020
The Unite union has called for building sites to be closed and workers paid as in other sectors. Picture:

As the economic impact of the Covid-19 pandemic takes further hold, a new report has shown that business activity is at a record low.

A purchasing managers’ index by IHS Markit, the economic and industry analyst firm, showed that the coronavirus has caused a faster downturn in business than the financial crisis of 2008.

The index is compiled from a panel of about 5,000 companies in the eurozone manufacturing and service sectors, including some in...

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