Textiles confidence hits four month high for most indicators – CMCI

LONDON (ICIS)–Confidence from fibre and clothing linked petrochemical players in Europe has risen for all indicators except current business conditions compared with 12 months ago, analysis of the October ICIS Chemical Market Confidence Index (CMCI) showed on Thursday.

The broad rise represents a rebound from a sharp fall in confidence in September. Since then, macroeconomic data in Europe has been broadly improving.

All indicators except for current business conditions and current profitability were at a four-month high in October. Expectations on current profitability were at a three-month high.

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 indices 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