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Counting the Costs of the Coronavirus Contagion in the Middle East

Bloomberg logoBloomberg 4/7/2020 Ziad Daoud (Economist)
a close up of a map: Middle East PMIs show beginning of downturn © Bloomberg Middle East PMIs show beginning of downturn

(Bloomberg) -- The number of coronavirus cases in the Middle East is rising and the curve is not flattening yet -- cases have doubled in the last week and nearly tripled in less than three weeks. The economic costs have started to show up in the data, according to Bloomberg Economics. The Purchasing Managers’ Index, a gauge of business sentiment, fell sharply in March in the six countries that publish it, and in half of these, it hit a record low.

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