U.S. Chemical Production Drops Slightly in February
During February, chemical output reportedly moved lower in all regions, except the Northeast which saw a small gain and the Mid-Atlantic and West Coast regions that experienced flat growth.
The U.S. Chemical Production Regional Index (U.S. CPRI) eased by 0.1% in February, following a 0.3% decline in January, and a 2.3% gain in December, as measured on a three-month moving average (3MMA) basis, according to the American Chemistry Council (ACC). During February, chemical output reportedly moved lower in all regions, except the Northeast which saw a small gain and the Mid-Atlantic and West Coast regions that experienced flat growth.
Chemical production was mixed over the same three month period. There were reportedly gains in the production 3MMA output trend of basic inorganic chemicals, chlor-alkali, industrial gases, fertilizers, synthetic dyes and pigments, synthetic rubber, coatings, and consumer products. These gains were offset by declines in the output trend in pesticides, manufactured fibers, adhesives, organic chemicals, and plastic resins.
On a 3MMA basis, manufacturing activity edged higher by 0.4% in February, following flat growth in January. Output expanded in several chemistry-intensive manufacturing industries, including food and beverages, motor vehicles, construction supplies, fabricated metal products, computers and electronics, semiconductors, foundries, tires, structural panels, printing, apparel, and furniture.
Compared to February 2017, U.S. chemical production was ahead 3.8% on a year-over-year basis. Chemical production continues to pull ahead of year ago levels in all regions.
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