The euro zone’s recovery from its deepest economic downturn on record hit the brakes in August, particularly in services, as pent-up demand unleashed by the easing of coronavirus lockdowns dwindled, a survey showed on Friday. To contain the spread of the virus, which has infected over 22.5 million people globally, governments imposed strict lockdowns – forcing businesses to close and citizens to stay home, bringing economic activity to a near halt. After many of those restrictions were relaxed, activity in the euro zone expanded in July at the fastest pace since mid-2018. But as infection rates have risen again in parts of the region, some earlier curbs have been reinstated. So in data likely to concern policymakers and diminish hopes for a V-shaped recovery, IHS Markit’s flash Composite Purchasing Managers’ Index sank to 51.6 from July’s final reading of 54.9, below all forecasts in a Reuters […]