China’s manufacturing sector contracts in July
The new orders index fell to 50.4 from 50.5 in June while the index for factory output decreased to 52.1 in July from 52.5 in the previous month.
However, the Caixin China General Manufacturing PMI, which reflects private and export-oriented manufacturing conditions, rose to 50.6 from June’s 48.6, increasing above the 50 level for the first time since February.
Some economists commented that pressure on China’s economic growth remains in place and the government may have to implement further supportive fiscal and monetary policies.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Tightness shapes expectations for Sept PVC pricing in Asia
- PP uptrend falters in Indonesia amid downstream resistance
- Will European PE market sustain uptrend following higher ethylene?
- COVID-19 resurgence weighs on polymer sentiment in Vietnam
- Stats: Turkey’s H1 polymer imports defy pandemic, hit all-time high
- Stats: China’s total PP, PE imports set a new record in H1 2020
- Lackluster demand outweighs tightness in Asian ABS markets
- Will costs drum up support for a 3rd-month-firming in Europe PET market?
- Import PE markets give softening signals in China, SE Asia
- PVC supplies tight, demand robust across Europe