Euro zone business activity collapsed last month as attempts to contain the coronavirus pandemic pushed governments across the continent to shut down vast swathes of their economies, from shops to factories to restaurants, a survey showed on Friday. The pandemic has infected more than a million people worldwide, paralyzing economies as consumers worried about their health and job security stay indoors and rein in spending. IHS Markit’s final Composite Purchasing Managers’ Index plummeted to a record low of 29.7 in March from February’s 51.6, lower than the flash reading of 31.4 and marking by far its biggest one-month drop since the survey began in July 1998. The 50 mark separates growth from contraction. “The data indicate that the eurozone economy is already contracting at an annualized rate approaching 10%, with worse inevitably to come in the near future,” said Chris Williamson, chief business economist at […]