Feb manufacturing PMI up in China, down in Malaysia and S Korea
However, the manufacturing sector in Malaysia continued to shrink in February with a PMI score of 49.4. Although the score was up from 48.6 in January and the manufacturing output expanded for the first time in 23 years, it still stood below the 50 threshold, which separates expansion from contraction. The contraction was attributed to the decrease in new orders and hiring.
Similarly, the manufacturing sector in South Korea contracted in February, but at a slower pace than in January. Accordingly, the country’s manufacturing PMI was at 49.2 after a reading of 49.0 in January. The contraction in the country’s manufacturing sector was mainly driven by the decrease in production, new orders and employment.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Tightness brings further price hikes in African PP, PE markets
- European PP hits new highs after 3-digit hikes for January
- Turkey’s PP, PE markets open 2021 with supply-driven hikes
- Vietnam’s local homo-PP market retreats for 3rd week on subdued demand
- China’s PE demand wavers amid controls on environmental pollution and electricity use
- January trend takes shape in Egypt’s PP, PE markets
- Stats: Turkey’s 2020 polymer imports set to beat the 2017 record
- China PP, PE markets close 2020 on a soft note; SE Asia feels pressure
- Stats: China’s total PE imports down for 2nd month in November
- Egypt PET markets poised to end the year on a strong note