UK manufacturing PMI slows to 3-month low in December
Any reading above 50 represents an expansion, though Markit economists reported that December’s reading fell below estimates. New orders decelerated to a five-month low in December while Markit’s export orders index also declined.
Growth in the service sector, which drives the UK’s economic growth, meanwhile, slightly slowed in December in line with economists’ expectations, according to a survey by Reuters. Markit’s services PMI declined to a reading of 55.5 from 55.9 in November. Markit lowered its forecasts of the UK’s GDP growth in the fourth quarter to 0.5% from 0.6%.
Earlier this week, Markit reported that the eurozone manufacturing sector continued to make solid progress at the end of 2015 as rates of growth in production, new orders and new export business all improved.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Asian PVC prices cautiously rebound from more than 2-year lows
- Freight rates near pre-Covid levels as pace of normalization accelerates
- Bleak outlook for Q1 keeps European PP, PE buyers sidelined
- PLAST EURASIA 2022: Eyes on Russian and US supplies with demand woes in focus
- December PE offers to SE Asia imply further drops, yet to respond to China
- 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