Eurozone manufacturing PMI slows in January
Lower orders and exports were cited as the reasons behind the slower PMI while weak global trade, plunging oil prices and the persistently slowing Chinese economy continue to weigh down on global markets. The latest index also revealed that the output index fell to 53.4 from 54.5 in December.
Across the region, Italy’s manufacturing PMI fell to a reading of 53.2 in January from a reading of 55.6 in December, missing initial forecasts of 55. Germany’s manufacturing PMI exceeded economists’ forecasts of 52.1, rising to 52.3 in January. France’s PMI, meanwhile, was stable at December’s level of 50.
Last week, a composite purchasing managers’ index (PMI) compiled by Markit Economics showed that a combined measure of manufacturing and service output in the eurozone fell to a reading of 53.5 in January from December’s reading of 54.3.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- 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
- China’s local PP, PE markets snap nine-week rally
- Turnarounds keep PP supply tight in SE Asia
- European PP market sees step backs from initial July offers