London-Polyurethane machinery makers' confidence has dropped for the second year in a row according to research by Urethanes Technology International.
According to The Urethanes Technology International polyurethane business confidence index (UTImcIndex) the industry has a confidence level of 3.92 down from the same period last year. The fall is due to increasingly tough trading conditions in a number of global regions and product sectors as lack lustre economics continue.
The data was compiled from the Urethanes Technology International Annual Machinery Survey. The UTImcIndex is calculated by counting the number of firms in our survey that say they have specific plans for a course of action, such as expansion.
We take the sum of firms which say they have specific plans and then divide that by the total number of respondents in the survey.
This number is then multiplied by a factor to account for how positive an action is. Acquisition and building new factories are the most positive and are multiplied by 10, Expansion is multiplied by 7, upgrading 3, consolidation is 1 and divestment is -10. All of the factors are added together to produce the index.
You can see the full survey results in our April-May 2013 edition and subscribers will be able to see the survey on line.
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