美化企对关税政策“期待转担忧”

Core Insights - The latest report from ICIS indicates a decline in U.S. chemical production in October, influenced by a sluggish manufacturing sector and increasing concerns over tariffs [1] - The ISM's Purchasing Managers' Index (PMI) for October shows a further deterioration in U.S. manufacturing output, dropping to 48.7, indicating deeper contraction [1] - Despite the decline in chemical production, prices for chemical products have risen [1] Group 1: Manufacturing Sector Performance - The PMI data reveals that the manufacturing sector is experiencing a significant downturn, with the index falling into a deeper contraction zone [1] - A participant in the PMI survey from the chemical industry expressed a shift in sentiment regarding tariff policies from "expectation" to "concern," noting a decrease in order volumes and a downward revision of financial expectations for 2025 [1] - Another chemical company reported ongoing difficulties in business, citing global economic uncertainty and frequent changes in tariff policies leading to order cancellations or reductions by clients [1] Group 2: Demand Indicators - Susan Spence, chair of the ISM PMI Business Survey Committee, noted that the short-term benefits from new orders growth in August and production improvement in September have not translated into sustained growth in manufacturing [1] - Four key demand indicators (new orders, new export orders, unfilled orders, and customer inventory index) have shown improvement but remain in contraction territory, with the customer inventory index's contraction rate slowing down [1]