Economics
U.S. Suffers Record Drop in Business Activity, IHS Markit Says
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U.S. business activity went into a tailspin in April along with confidence amid nationwide lockdowns aimed at mitigating the coronavirus pandemic.
The IHS Markit composite index of purchasing managers plummeted 13.5 points to 27.4, the lowest in data back to 2009, the group reported Thursday. Readings below 50 indicate contraction, and the data are consistent with figures for the Germany, France, Japan and Australia that indicate a worldwide recession.