Automotive confidence rebounds in October, CMCI shows

Mark Victory

27-Oct-2016

LONDON (ICIS)–Confidence from automotive-linked petrochemical players has broadly improved in October across all indicators, analysis of the ICIS Chemical Market Confidence Index (CMCI) showed on Friday.

The rise in confidence comes amid more positive macroeconomic indicators in Europe during October, and strong EU passenger car sales in September.

Nevertheless, the increased confidence can be seen as a rebound from September sentiment, when the Automotive CMCI hit a record low across all indicators.

Views on current order book volumes compared with 12 months ago, is the only indicator where confidence has further eroded in October – despite the positive new passenger car data.

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

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