Europe June fibres and clothing CMCI down across all indicators from May

Graeme Paterson

29-Jun-2016

LONDON (ICIS)–Confidence in the European fibres and clothing chemical sector fell across the board in June with the steepest sentiment drop in future business conditions, ICIS data showed on Wednesday.

This is in contrast to May’s ICIS Chemical Market Confidence Index for this end-use sector which was positive across the full range of indicators.

June CMCI clothing and fibres

The sharpest decline was for business expectations over the next 12 months, which swung to a significant negative in June from a strong positive in May. Sentiment for current business conditions was down only slightly and remained positive.

Current and future order book volumes both fell but remained in positive territory. Current and future profitability were also down, with the former turning negative and the latter halting at zero in the index.

The fibres and clothing CMCI index includes acrylonitrile (ACN), butadiene, caprolactam, isocyanates, nylon and polyethylene terephthalate (PET).

The newly established ICIS Europe CMCI aggregates sentiment from hundreds of petrochemical market players actively involved in price negotiations across more than 60 different markets.

The Europe CMCI runs from +100, to -100, with zero on each index representing neutral, or uncertain conditions, a negative score indicating bearish expectations and a positive score representing bullish expectations. The indexes also gather sentiment on the comparison between the current situation and the situation across the past 12 months to give a complete picture of current market conditions and confidence. The information is gathered in the third week of each month. A full methodology is available on request.

For more details on the overall Europe CMCI data, click here

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