U.S. Chemical Production Up 3.7%
The U.S. Chemical Production Regional Index rose by 0.3% in July, following a revised 0.2% gain in June and flat growth over the March to May period, according to the American Chemistry Council (ACC).
Over the same period, chemical production by segment was reportedly mixed. There were gains in the output of organic chemicals, inorganic chemicals, synthetic rubber, plastic resins, agricultural chemicals and pharmaceuticals. However, these gains were offset by declines in the production of industrial gases, consumer products, coatings, manufactured fibers, and other specialties.
On a three-month-moving average basis, manufacturing activity edged higher by 0.2% in July, following gains in May and June. Production expanded in several chemistry-intensive manufacturing industries, including motor vehicles, construction supplies, computers, plastic products, and furniture.
Compared to July 2014, U.S. chemical production was ahead by 3.7% on a year-over-year basis, a weakening trend. Chemical production remained ahead of year ago levels in all regions.
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