U.S. Chemical Production Flat in August
Disruptions from Hurricane Harvey were most pronounced in the Gulf Coast region which saw a steep decline, following three months of solid gains.
According to the American Chemistry Council (ACC), the U.S. Chemical Production Regional Index was flat in August, following strong gains in July (1.2%) and June (0.8%), as measured on a three-month moving average (3MMA) basis. During August, output gains in the West Coast, northeast, and Mid-Atlantic offset declines in the Gulf Coast and Ohio Valley regions. Output in the midwest and southeast were flat. Disruptions from Hurricane Harvey were most pronounced in the Gulf Coast region, which reportedly saw a steep decline, following three months of solid gains. Also measured on a 3MMA, chemical production was mixed.
On a three-month-moving average basis, manufacturing activity was reportedly flat in August, following a downwardly revised decline in July. Production expanded in several chemistry-intensive manufacturing industries, including food and beverages; aerospace; fabricated metal products; foundries; plastic products, rubber products and tires; structural panels and textile products.
Compared to August 2016, U.S. chemical production was up 3% on a year-over-year basis. Chemical production was also reported ahead levels in all regions from the prior year.
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