For the Quarter Ending September 2023

North America:

In the third quarter, Carnitine prices in North America exhibited a mixed trend, experiencing a decline in July and August but rebounding in September. The United States witnessed a drop in business activity during this period, influenced by weakened demand both domestically and internationally. In August, inflation in the U.S. reached 3.7%, marking the first time since June 2022 and attributing it to a notable surge in energy prices towards the end of summer, further dampening consumer confidence. The escalating inflationary pressures indicate a deviation from the Federal Reserve's 2% target rate, prompting authorities to contemplate raising interest rates later in the year. To combat persistent inflation, the Federal Reserve increased its key policy interest rate by 0.25% in July, the eleventh such adjustment in 17 months, resulting in a decrease in market demand. The Consumer Price Index rose by 3.7% in September, slightly exceeding the predicted 3.6%. Energy expenses, particularly gasoline and fuel oil prices, contributed to this increase. Additionally, sluggish imports from China kept Carnitine prices high in the region.

Get Real Time Prices of Carnitine: https://www.chemanalyst.com/Pricing-data/carnitine-1353

Asia Pacific:

Carnitine prices in the Asia Pacific region declined by 22.73% and 2.10% in July and August, respectively, before registering a 0.43% increase in September. The Chinese economy faced challenges that impeded its growth, as reflected in the July manufacturing PMI of 49.3, indicating contraction rather than expansion. Lower overseas orders and sales hindered business activities, and inflation and rising interest rates in major export markets, including the U.S. and Europe, continued to weigh on Chinese demand. The new export order sub-index decreased for the sixth consecutive month in August. To counter economic concerns, China's central bank reduced its main interest rate, stimulating market consumption and leading to an increase in Carnitine prices in China. The manufacturing PMI in China rose back into the expansion zone in September, signaling a potential economic revival.

Get Real Time Prices of Carnitine: https://www.chemanalyst.com/Pricing-data/carnitine-1353

Europe:

Carnitine prices in Europe displayed a diverse pattern in the third quarter, declining in July and August before increasing in September. In Germany, the July purchasing managers' index (PMI) was 41, indicating a continued decline in new orders from both domestic and global markets, despite ample stocks among market players. August saw a sustained lack of consumer confidence due to increasing interest rates, surging inflation, the ongoing oil crisis, and global complexities. The persistent inflation, driven by excessive energy and oil prices, negatively impacted consumer spending power and contributed to the downward trajectory of Carnitine prices. However, a price increase in September signaled a resurgence in consumer confidence, possibly influenced by factors such as a shortage of available inventory, rising energy prices, and growing end-user demand.