India’s manufacturing and services shrink in Dec
Similarly, the data showed that India’s services PMI also contracted for the second month in a row. The country’s services PMI stood at 46.8 in December, almost the same as 46.7 in November.
Economists attribute these decreases to the government’s decision to demonetize high value banknotes in the country, which is thought highly likely to cause Asia’s third biggest economy to slow down further in the near future and eventually lose its position among the world’s fastest growing economies.
India’s Prime Minister Modi had recently announced some measures to prevent the country’s economy from being negatively affected by the decision.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Has the bear market for Asian PVC almost run its course?
- Demand outlook for crude oil dims amid China worries
- Asian styrene prices rebound from almost two-year lows
- Turkey’s PE market on brink of new drops for December
- Signs of optimism in China PP and PE markets, but caution remains
- Egypt’s import PP, PE markets flat but domestic prices turn upwards in Nov
- PVC downturn enters 7th month, prices still far from pre-pandemic levels in Europe
- Aggressive US PE offers make a scene across global markets in Q4 after a hiatus of 2 years
- SEA cracker outages and lack of deep-sea cargoes underpin olefin prices in Asia
- US origin hammers import PVC prices into Asia