The Eurozone Purchasing Manager Index (PMI) recorded the three-month high in May after seeing all-time low last month, according to a flash estimate on Thursday.
The PMI, which dropped to 13.6 in April, rose to 30.5 this month, a report by the London-based global data firm IHS Markit said.
"The eurozone economy remained stuck in its deepest downturn ever recorded in May due to ongoing measures taken to control the coronavirus disease," it stated.
"However, the rate of decline eased as parts of the economy started to emerge from lockdowns."
The report warned that social distance and other measures continue to affect several sectors such as travel, tourism and food.
Chris Williamson, a chief business economist at IHS Markit, said: "The eurozone saw a further collapse of business activity in May but the survey data at least brought reassuring signs that the downturn likely bottomed out in April."
The GDP will drop 10% in the second quarter versus the first quarter, but the improving PMI signals for a moderate downturn as measures eased, he noted.
After originating in China last December, COVID-19, the disease caused by the novel coronavirus, has spread to at least 188 countries and regions. Europe and the US are currently the worst hit.
The pandemic has killed over 328,500 people worldwide, with more than 5 million confirmed cases, while recoveries have surpassed 1.9 million, according to figures compiled by the US-based Johns Hopkins University.
Image Credit: © AA
The most interesting news
Embracing NDC as a corporation to drive better experiences for business travelers
NDC is a feature-rich way for airlines to share their product offering in their indirect distribution channels with more efficiency, flexibility and more relevant information for the traveler.
Emirates Group Announces 2020-21 Results
Group records annual loss of AED 22.1 billion (US$ 6.0 billion) due to COVID-19 pandemic impact, its first non-profitable year in over three decades
EU and US agree to end 17-year Boeing-Airbus trade dispute
Transatlantic allies also plan on reforming World Health Organization, boost COVID-19 vaccination worldwide.
Fast Lane to Food: Fraport Is Testing Yoordi, a New Food Ordering Service, at Frankfurt Airport
The digital Yoordi system, an innovative self-ordering solution, additionally enhances the passenger experience.
SunExpress to start Antalya-Ljubljana flights
Twice a week reciprocal flights to start as of June 18, airline says.
Turkish business association to host 'diplomacy, gourmet' meeting
Event aims to improve relations of Black Sea Economic Cooperation member countries, trade, gastronomic tourism.
Lufthansa Group announces medium-term targets and makes preparations for a capital increase
Continued progress in travel re-opening worldwide has lead to a sharp increase in bookings.
Kenya launches elephant naming ceremony to promote conservation
There has been a 96% decline in poaching with 11 elephants poached in 2020 compared with 386 elephants in 2013.
Qatar Airways Launches Oryx Connect, Transforming the Retail Experience for our Trade Partners
Qatar Airways is introducing a state-of-the-art new platform for trade partners that will enable them to build tailored travel experiences for their customers.
Promoting ‘Brand Africa’ to realize the continents tourism potential
UNWTO’s African Member States will work together to establish a new narrative for tourism across the continent.
Russia to send experts to assess resumption of air traffic with Turkey
Russian regulator says decisions to resume air services, tourism to be made after team visit to assess anti-epidemic measures.
Fraport Inaugurates New Passenger Terminal in Ljubljana
On June 16, Fraport Slovenija – a Fraport AG company – officially inaugurated its new passenger terminal at Ljubljana Airport in Slovenia.
UNWTO ‘Jobs Factory’ launched to kickstart tourism jobs recovery
The World Tourism Organization (UNWTO) has launched the Jobs Factory, powered by Hosco, the global hospitality network. This innovative platform is designed to connect talent with employers across the sector, being the perfect solution for hospitalit
Eurowings Discover has been granted Air Operator Certificate
Now it is official: Just in time for the current steep rise in demand for holiday bookings, the Lufthansa Group's new leisure airline is ready for take-off.
Emirates ramps up operations over summer to serve strong demand
Emirates is ramping up its operations and expanding services across its network to meet strong leisure travel demand over the summer, as entry restrictions ease for travellers.
Seeing Turkish safety measures, Russian delegation eyes possibly resuming flights
Delegation in Antalya to prepare report which will affect Moscow’s decision on possibly resuming flights to Turkey.
Are you ready to get your employees safely back to traveling?
According to a recent survey conducted by Amadeus, business travelers are really enthusiastic about resuming travel: of the 1,400 business travelers surveyed across seven countries, an overwhelming 84% majority admitted to being ready to travel for w
Lufthansa deploys the Jumbo and Airbus A350 to Mallorca due to high summer vacation demand
Lufthansa is taking extraordinary measures in order to respond to a significant increase in booking demand for flights to Palma de Mallorca from both Frankfurt and Munich.
Ex-UK premier Blair says vaccination only savior for tourism industry
If equitable distribution of vaccine is ensured, global inoculation may be achieved by end of 2022, says Tony Blair.
Taleb Rifai: Tourism sector will not recover until single travel system developed
System can be created to display vaccination, test results on single passport, says former head of World Tourism Organization.