Eurozone composite PMI hits more than six-year-high
The composite PMI rose to a reading of 57.5 from a reading of 56 in October, its highest since April 2011.
New orders showed the biggest increase since February 2011 while goods exports surged at a record pace.
The manufacturing PMI rose to its highest levels since June 1997 and was reported at 60.1 in November from a preliminary reading of 60 while services PMI increased to 56.2 from 55.0 in October.
Meanwhile, France’s and Germany’s economies continued to grow robustly while the rest of the eurozone recovered from last month’s nine-month low. Germany’s manufacturing PMI rose to 62.5 from 60.6 in the previous month while France’s manufacturing PMI accelerated to 57.7 amid an improving manufacturing sector in the country.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Stats: China’s 2023 PE imports snap two-year downfall despite rapidly growing domestic capacities
- PE rally loses momentum on subsiding demand in Türkiye
- PVC prices flat for 2nd straight month in Italy and West Europe
- Freight rates snap rally, Red Sea crisis keeps decreases in check
- Worsening dollar shortage pushes Egypt’s local PP, PE prices to never-before-seen highs
- Stats: US PE exports hit a renewed record in 2023, sales to China boom
- Türkiye’s PP market continues to grapple with tight supply, prices at multi-month highs
- Margin expansion targets push Italy’s PE film markets to multi-month highs
- LDPE prices rise faster than other PP, PE products in India’s bullish market
- Headwinds await China’s PP, PE markets post-holiday period