IHS Markit: Singapore PMI Sinks To Record Low 33.3 In March

If lockdowns are imposed in Japan to curb the spread of the coronavirus analysts say the world's third-largest economy could shrink by more than 10 percent

If lockdowns are imposed in Japan to curb the spread of the coronavirus analysts say the world's third-largest economy could shrink by more than 10 percent

Britain's economy looks set for a slump that in the short term could be deeper than during the depression of the 1930s, as a survey showed the coronavirus crisis caused a record downturn among services and manufacturing firms in March.

Factory activity in the country grew at its slowest pace in four months as the impact of the coronavirus pandemic weighed on sentiment, clouding the business confidence outlook, a survey showed on Thursday.

Russia's Services PMI is an index which indicates upwards or downwards trends in various manufacturing and service-related sectors of the economy. Its index sank to 34.5 from February's 53.2, and was also weaker than the March flash reading of 35.7. When it falls below 50 points, it indicates a decline in economic activity. The latest survey data were collected between 12 and 27 March.

People were told to stay home unless they were exercising, shopping for essentials or doing essential work that could not be done from home.

Detroit Bus Driver Who Posted About Coughing Passenger Dies from Coronavirus
As of Friday morning, there were more 2,860 cases and 97 deaths in the city, according to a Detroit Health Department website. Hargrove said drivers are "public workers doing our job, trying to make an honest living, take care of our families".

The IHS Markit/CIPS final United Kingdom services purchasing managers' index printed at 34.5, coming in below the flash estimate of 35.7 and down sharply from 53.2 in February.

"However, employment levels across the service sector still dropped at the fastest pace for more than a decade, reflecting some forced redundancies and the non-replacement of departing staff amid widespread hiring freezes".

The services sector - which covers a range of businesses from law firms and accountants to travel agents and restaurants - represents 80% of United Kingdom economic output.

According to the company's statement, Russian firms involved in the service sector demonstrated a significant decrease in business activity in March, turning away from "a moderate expansion" in February.

Recommended News

  • Britain's Queen Elizabeth to Make Rare Address to Nation

    Britain's Queen Elizabeth to Make Rare Address to Nation

    Buckingham Palace revealed that the speech would be played on TV, radio as well as the royal family's social media channels. Queen Elizabeth II has recorded a special broadcast on the coronavirus outbreak that will be broadcast on Sunday.
    World Bank fast-tracks USD128Mn COVID-19 support for Sri Lanka

    World Bank fast-tracks USD128Mn COVID-19 support for Sri Lanka

    The first group of projects, amounting to $1.9 billion, will assist 25 countries, it said. Pswarayi-Riddihough, World Bank Country Director for Maldives, Nepal, and Sri Lanka.

    Coronavirus Stimulus Check Calculator - How Much Will You Get?

    Anyone earning up to $75,000 in adjusted gross income and who has a Social Security number will receive a $1,200 payment. For heads of household with one child, the benefit starts to decline at $112,500 and falls to zero at $146,500.
  • Corona beer suspends production over the pandemic

    Corona beer suspends production over the pandemic

    Sales accelerated in the first three weeks of March, the company said, with its beers growing 24% compared to a year ago. Corona is once again making headlines, and we're not talking about the virus.
    Trump casts doubt on China's coronavirus figures

    Trump casts doubt on China's coronavirus figures

    A Chinese foreign ministry spokesman, Zhao Lijian, tweeted March 12: "It might be USA army who brought the epidemic to Wuhan". US President Donald Trump also told reporters on Wednesday that he did not believe the figures given by China.
    Target limiting number of guests in stores beginning this weekend

    Target limiting number of guests in stores beginning this weekend

    Once the store reaches it's capacity, customers will have to wait for one person to leave before another can enter. They're also eliminating major spring promotions to avoid driving high levels of traffic to stores.
  • Fallout 76 is free on Steam for Bethesda.net players

    Fallout 76 is free on Steam for Bethesda.net players

    Bethesda.net and Steam gamers can play together, and all of your guns, progress, gear, and stats will transfer between platforms. However, items you have purchased through the Atomic Shop will be available in both Bethesda.net and Steam.
    US Patriot deployment breaches Iraq's sovereignty, says lawmaker

    US Patriot deployment breaches Iraq's sovereignty, says lawmaker

    "Upon information and belief , Iran or its proxies are planning a sneak attack on U.S. troops and/or assets in Iraq ". Camp Taji was under a similar rocket attack on March 14, and three USA service members were injured.
    Cruise ships 'failed to declare COVID-19 cases'

    Cruise ships 'failed to declare COVID-19 cases'

    There are 835 cases of COVID-19 in Queensland, including nine people in intensive care. NSW cases of COVID-19 rose by 116 to 2298 on Thursday.
  • 22 new deaths due to Covid-19 confirmed, 424 new cases

    22 new deaths due to Covid-19 confirmed, 424 new cases

    There have now been 120 coronavirus related deaths in Ireland with the median age of the deaths so far in Ireland at 82 years. All those over 70 are advised to cocoon themselves. "Over 70's should not be leaving home".
    Two COVID-19 Related Deaths Reported on Vancouver Island

    Two COVID-19 Related Deaths Reported on Vancouver Island

    There are 525 cases in Vancouver Coastal Health (VCH), 386 in Fraser Health , 72 on Vancouver Island and 121 in Interior Health . The total number of test-positive cases in B.C. has reached 1,121 - which includes 641 people who have fully recovered.
    Forgivable loans for small businesses affected by COVID-19 available Friday

    Forgivable loans for small businesses affected by COVID-19 available Friday

    The loans carry an interest rate of 0.5 percent and repayment won't begin for six months. A single business can only apply for one loan under the program.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.