China’s manufacturing PMI revealed for November
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, official data released by China’s National Bureau of Statistics revealed that the factory PMI rose to 51.8 in November from 51.6 in October. China’s National Bureau of Statistics measures large state-owned enterprises in this index. Any figure above 50 represents an expansion while any figure below 50 shows a contraction.
Accordingly, the latest official data showed that an index for new export orders slightly increased to 53.6 in November from a reading of 52.9 in October.
However, the data released by the Caixin Purchasing Managers’ Index, a private measure which captures mid-sized companies, showed that the country’s official manufacturing Purchasing Managers’ Index (PMI) declined to the reading of 50.8 in November from 51 in October, in line with the economists’ expectations of 50.9.
The decline was attributed to higher input costs and stricter pollution measures taken by the Chinese government.
The official services and construction industries PMI was slightly up to 54.8 in November from 54.3 in October.
Meanwhile, China’s GDP growth is expected to decline to 6.6% in the fourth quarter of 2017 from 6.8% in the previous quarter.
Accordingly, the latest official data showed that an index for new export orders slightly increased to 53.6 in November from a reading of 52.9 in October.
However, the data released by the Caixin Purchasing Managers’ Index, a private measure which captures mid-sized companies, showed that the country’s official manufacturing Purchasing Managers’ Index (PMI) declined to the reading of 50.8 in November from 51 in October, in line with the economists’ expectations of 50.9.
The decline was attributed to higher input costs and stricter pollution measures taken by the Chinese government.
The official services and construction industries PMI was slightly up to 54.8 in November from 54.3 in October.
Meanwhile, China’s GDP growth is expected to decline to 6.6% in the fourth quarter of 2017 from 6.8% in the previous quarter.
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
