Rolling coverage of the latest economic and financial news
8.25am GMT
Overnight, we’ve seen fresh signs that China’s economy is suffering heavy economic damage from the coronavirus.
Activity in its service sector slumped at a record pace, according to the latest survey of company bosses.
“Stagnating consumption amid the coronavirus epidemic has had a great impact on the service sector.”
Another #PMI collapse from #China! Caixin Services PMI down to 26.5, even worse than the official Non-Manufacturing PMI. pic.twitter.com/FxOWApbf9x
8.18am GMT
French finance minister Bruno Le Maire believes that Europe may need to boost government spending to protect its economy from the impact of the coronavirus.
Speaking on BFM business radio this morning, Le Maire said eurozone governments should be ready to use fiscal stimulus, if economic growth is damaged.
Ma responsabilité en tant que ministre de l’Économie et des Finances face au #coronavirus est de soutenir les entreprises au quotidien et d’anticiper pour que l’activité économique française puisse redémarrer le plus vite possible, une fois sortie de cette crise sanitaire. pic.twitter.com/fiWo7ABMQb
