ASEAN manufacturing PMI slightly up in November
by ChemOrbis Editorial Team - content@chemorbis.com
According to the Nikkei Manufacturing Purchasing Managers’ Index (PMI), the manufacturing PMI in ASEAN countries rose to 50.8 in November from 50.4 in October. A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.
The Philippines’ PMI increased to 54.8 and became the best performer in November while Malaysia outpaced Myanmar as its growth rebounded after a decline in November.
Vietnam, meanwhile, fell to the fourth place due to its slower growth in the manufacturing sector. Indonesia’s manufacturing growth posted a slight increase while Thailand’s operating conditions remained stable on the month.
On the other hand, Singapore’s PMI declined to 47.4 and slid into contraction.
However, the overall growth in ASEAN manufacturing output increased its pace and production outlook improved in November, despite higher inflationary pressures in the region.
The Philippines’ PMI increased to 54.8 and became the best performer in November while Malaysia outpaced Myanmar as its growth rebounded after a decline in November.
Vietnam, meanwhile, fell to the fourth place due to its slower growth in the manufacturing sector. Indonesia’s manufacturing growth posted a slight increase while Thailand’s operating conditions remained stable on the month.
On the other hand, Singapore’s PMI declined to 47.4 and slid into contraction.
However, the overall growth in ASEAN manufacturing output increased its pace and production outlook improved in November, despite higher inflationary pressures in the region.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Can LDPE uptrend hold in Asia?
- Europe PVC prices lag behind global markets, upward pressure mounts
- PS, ABS markets take respite from rising streak in China, SEA
- Muted demand in Europe paves way for plenty of PP, PE offers in Turkey
- Import PE uptrend persists in China despite bearish winds mounting in local market
- 3-digit hikes in Oct PVC offers reinforce supply-driven bullishness in Asia
- Crude oil caught between demand woes and production disruption
- Tightness drives European PVC market up, prices near pre-pandemic levels
- Major LDPE markets touch multi-year highs on growing tightness
- A prospect for Q4 through uncharted waters of 2020 amid pandemic
