China’s Aug manufacturing PMI posts strongest pace in nearly two years
The index for factory output rose to a reading of 52.2 from July’s 52.1, hitting the highest level this year while total new orders expanded sharply despite falling exports orders. An economist from Commerzbank AG reportedly commented that although many factories shut their plants due to the G20 Summit, China’s overall manufacturing activities improved probably on the back of improving growth momentum following the government’s monetary stimulus.
Meanwhile, the Caixin/Markit Manufacturing Purchasing Managers’ index (PMI), a private sector company focusing more on small and mid-sized firms, declined to a reading of 50 in August from 50.6 in July. According to Caixin, indexes of output and new orders declined from the previous month.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- China boosts polymer imports from US again despite shrinking overall imports in 2022
- Asian PVC prices cautiously rebound from more than 2-year lows
- Freight rates near pre-Covid levels as pace of normalization accelerates
- Bleak outlook for Q1 keeps European PP, PE buyers sidelined
- PLAST EURASIA 2022: Eyes on Russian and US supplies with demand woes in focus
- December PE offers to SE Asia imply further drops, yet to respond to China
- Has the bear market for Asian PVC almost run its course?
- Demand outlook for crude oil dims amid China worries
- Asian styrene prices rebound from almost two-year lows
- Turkey’s PE market on brink of new drops for December