Eurozone’s Nov PMI indicates fastest growth for 2016
by ChemOrbis Editorial Team - content@chemorbis.com
According to a preliminary purchasing managers’ index (PMI) released by Markit Economics, the eurozone has posted the strongest economic growth of this year in November. The preliminary flash Markit Eurozone PMI was up to 54.1 from 53.3 in October. This reading marked the strongest output increase on a monthly basis since December 2015.
Across the region, Germany’s growth in business activity was slightly down but still above the low level seen in September. Germany’s service providers had the fastest growth since May.
According to the release, both manufacturing and service sectors grew at similar rates while the service sector posted the largest expansion of 11 months. Despite a slight decrease, the growth in manufacturing was still the second biggest so far this year on the back of the improved export sales.
Meanwhile, France posted the second best growth over the past year and the largest gain for one and a half year with the rise in new orders and employment. The largest growth was in the service sector while manufacturing also continued to grow on the back of the rise in exports, according to the index.
Across the region, Germany’s growth in business activity was slightly down but still above the low level seen in September. Germany’s service providers had the fastest growth since May.
According to the release, both manufacturing and service sectors grew at similar rates while the service sector posted the largest expansion of 11 months. Despite a slight decrease, the growth in manufacturing was still the second biggest so far this year on the back of the improved export sales.
Meanwhile, France posted the second best growth over the past year and the largest gain for one and a half year with the rise in new orders and employment. The largest growth was in the service sector while manufacturing also continued to grow on the back of the rise in exports, according to the index.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Import PE prices fall to lowest in more than a decade across Asia
- Tightness pushes Asian PVC markets to 3-month high
- China’s PE market continues bearish run on sluggish demand
- PP and PE markets turn softer in Egypt, Mid-East
- European PET extends bearish trend into 3rd consecutive month
- European PS, ABS markets down after 4 months
- Thai PP, PE markets subdued by slowing economy, competitive imports
- Vietnam’s PE market extends losses into June on frail demand
- Asian spot naphtha prices pull back from multi-month highs
- China gears up for new PP start-ups in H2 2019
