01 December 2010 05:46 [Source: ICIS news]
November’s performance marks the 21st consecutive month that the PMI has stayed at over 50%.
The production sub-index increased 1.4% to 58.5% while the new orders sub-index climbed 0.1% to 58.3%, according to the CFLP data.
“The new orders index was the second straight month that [it was] above 58%, which is a high-level point, showing that the demand in [the] manufacturing sector [is] still strong,” said an official from CFLP.
The export sub-index was 53.2% in November, an increase of 0.6% from October, while the import sub-index reached 50.6%, a drop of 2.2% from last month, the data showed.
The import sub-index was expected to be stable or even softer in next two or three months because of fluctuating international prices, the official added.
The PMI serves as a barometer for the monthly performance of
A reading of above 50% suggests economic expansion, while a reading below 50% indicates contraction.
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|