By Editorial Dept – Mar 27, 2020, 12:30 PM CDT

Friday, March 27, 2020

1. Economic activity plunges to decade-low

– The U.S. economy contracted at the fastest rate in March since the depths of the financial meltdown a decade ago.

– IHS Markit’s purchasing managers index saw manufacturing activity drop to a reading of 47.6, while the services index plunged to 39.1. Anything below 50 is a signal of contraction. The composite of those two fell to 40.5 in March, down from 49.6 in February.

– In the eurozone, the comparable index fell to 31.4 in March from 51.6 in February.

– “We are confident that the speed of the collapse now is faster than after the crash of September 2008,

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