Europe’s economy has ‘likely bottomed out’ and is starting to bounce back, according to a set of closely-watched business surveys

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Europe’s economic slump has “likely bottomed out” and is bouncing back, according to a set of closely watched business surveys released Thursday. IHS Markit’s Eurozone Composite Purchasing Managers Index (PMI) posted an improved reading of 30.5 in May, up from 13.6 in April. The UK’s Composite Index came in at 28.9, up from 18.8 in April. “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,” Chris Williamson, chief business economist at IHS Markit said. Visit Business Insider’s homepage for

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