Fourth Quarter Chemicals Production Continues at Strong Pace
During November, capacity utilization in the global business of chemistry gained 0.4 percentage points to 81%, up from 80.3% last November.
Data collected and tabulated by the American Chemistry Council shows that growth in global chemistry during November was buoyed by a synchronized upswing in the global economy. The American Chemistry Council’s Global Chemical Production Regional Index (Global CPRI) reportedly shows that global chemicals production rose 0.6% in November 2017, following a 0.5% gain in October. During November, production gains were reportedly broad-based with all regions growing. The Global CPRI was up 3.1% year-over-year (Y/Y) on a three-month moving average (3MMA) basis and stood at 112.4% of its average 2012 levels in November.
During November, capacity utilization in the global business of chemistry gained 0.4 percentage points to 81%, up from 80.3% last November but below the long-term (1987-2016) average of 88.8%. Results were generally positive on a product basis during November, with weakness only suggested in synthetic rubber and pharmaceuticals. Considering Y/Y comparisons, growth was reportedly strongest in coatings followed by pharmaceuticals, consumer products, manufactured fibers, and organic chemicals.
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