U.S. Chemical Production Regional Index Rises in May
During May, chemical production reportedly grew in all regions except the Gulf Coast.
According to the American Chemistry Council (ACC), the U.S. Chemical Production Regional Index (U.S. CPRI) edged higher by 0.2% in May, following revised 0.3% declines in April and March. During May, chemical production reportedly grew in all regions except the Gulf Coast.
Also measured on a 3MMA basis, chemical production was mixed, suggested to be due to gains in the production output trend of chlor-alkali, consumer products, other inorganic chemicals, pesticides, adhesives, coatings, pharmaceuticals, and fertilizers. These gains were reportedly offset by declines in the output trend in other specialty chemicals, industrial gases, plastic resins, synthetic rubber, manufactured fibers, and organic chemicals.
Also reported, on a three-month-moving average basis, manufacturing activity was flat in May, following a 0.3% gain in April. Production expanded in several chemistry-intensive manufacturing industries, however, including food and beverages; machinery; computers and electronics; semiconductors, petroleum refining; and textile products.
Compared to May 2016, U.S. chemical production was off by 1% on a year-over-year basis, an improving trend. Chemical production was lower than year ago levels in the Midwest, Mid-Atlantic, Southeast, Northeast, and West Coast regions. Production in the Gulf Coast and Ohio Valley regions were up on a Y/Y basis.
For more information, visit www.americanchemistry.com.