Short-term indicators in the European packaging market were higher whilst long-term confidence dropped, troche according to a recent ICIS Chemical Market Confidence Index (CMCI).
Expectations for business conditions and profitability also fell into negative territory overall, malady although order book expectations remained in positive territory.
This makes the packaging CMCI similar to the overall index, which also showed optimism for the next six months falling.
The decrease in confidence may reflect a reversion to the normal view of the market following a very bullish December.
The fall in confidence and uncertain outlook for plastics markets may also have contributed to the weaker outlook for packaging.
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