Reuters: China’s official PMI expected to contract in Dec
The survey showed that China’s official PMI is expected to increase to a reading of 49.7 from November, when the official PMI released by the National Bureau of Statistics hit the lowest level seen since August 2012, declining to a reading of 49.6. Any reading below 50 represents a contraction.
Analysts commented that despite recent recoveries in the housing sector and auto sales, overcapacity issues, weak domestic and external demand and deflationary pressures continue to weigh down the country’s manufacturing activities.
According to the People’s Bank of China (PBOC), the Chinese economy will grow 6.9% this year, slower than the previous year’s growth rate of 7.3%. In 2016, meanwhile, China’s economic growth is expected to slow further to 6.8%.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- US PVC offers resurface at competitive levels in Egypt, Turkey
- China import PE prices extend losses into April on lower costs
- Bullish price environment continues in Egypt’s PP, PE markets
- Unexpected plant shutdown fails to cease local PP downturn in Indonesia
- Export PVC prices out of China provide competitive edge
- European PP, PE set for 6th bullish month, is peak near?
- Caution reigns China PP market amid scant demand, low import supply
- Major producer leads way in higher April PP, PE pricing in Saudi Arabia
- European PVC set to rise for 11th month in April
- Suez Canal blockage: Global shipping faces another challenge