LONDON (ICIS)--Confidence in the European intermediates chemicals chain mostly improved from last month with marginal declines in just two indicators, according to analysis of the August ICIS Chemical Market Confidence Index on Tuesday.
Future business conditions and future profitability fell by 2.1 and 0.3 points respectively while current business conditions, current and future order book volumes and profitability compared with the last 12 months all rose from July.
Current profitability and current business conditions were both negative while all other indicators were positive, notably future order book volumes which was at 41.9 points following a strong rise from July.
CMCI intermediates last four months
The overall CMCI for August shows improving short-term business conditions but lower long-term confidence as economic and political uncertainty continue to weigh down the European market.
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