The flash eurozone composite purchasing managers index in March plummeted to a reading of 31.4 from 51.6 in February, which is a record low since the series began in July 1998.

The services PMI plunged to 28.4 from 52.6 in February. Any reading below 50 indicates contracting conditions. "The March PMI is indicative of GDP slumping at a quarterly rate of around 2%, and clearly there's scope for the downturn to intensify further as even more draconian policies to deal with the virus are potentially implemented in coming months," said Chris Williamson, chief business economist at IHS Markit.

Source : Market Watch