Chemical Production Rose in January
The U.S. Chemical Production Regional Index (U.S. CPRI) rose by 0.5% in January, as measured on a three-month moving average, according to the American Chemistry Council (ACC). This followed a revised 0.4% gain in December and a 0.7% gain in November. All regions posted growth in January.
Specific chemical production was mixed. There were gains in the production output trend of plastic resins, organic chemicals, consumer products, chlor-alkalis, other inorganics, and other specialties. These gains were offset by declines in the output trend in manufactured fibers, fertilizers, pesticides, coatings, adhesives, and industrial gases. On a three-month-moving average basis, manufacturing activity reportedly was flat for a fourth straight month in January. Production expanded in several chemistry-intensive manufacturing industries, including food and beverages, fabricated metal products, computers, semiconductors, rubber products, structural panels, and textile products.
Compared to January 2015, U.S. chemical production was ahead by 2.4% on a year-over-year basis, an improving trend. Chemical production remained ahead of year ago levels in all regions.
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