Durable goods production thrives in the EU in February, according to the latest data from Eurostat.
The data showed an increase in production of 2.4% for the European Union compared to the same period in 2020.
While industrial output was down 1.1% after a brief spell in positive territory in January, durable goods registered yet another increase, a trend that continues since August.
Moreover, the increase in durable goods production confirms that demand for polymers is not only to do with panic buying, but it is also to do with strong activity in downstream markets.
Since the increase in demand after the summer, many polymers market participants pointed to panic buying as the main cause for the relentless demand. While to some extent this is true, the positive data also shows that downstream markets are healthy and growing.