Global Chemicals Production Ends First Quarter on a Soft Note
During March, production gains were in North America, the Former Soviet Union, and Africa and Middle East, with weakness elsewhere.
Data collected and tabulated by the American Chemistry Council show that the global chemical industry ended the first quarter on a soft note. The American Chemistry Council’s Global Chemical Production Regional Index (Global CPRI) shows that global chemicals production fell 0.3% in March, following a 1% drop in February, and a 0.6% decline in January. The last gain was reportedly 0.3% in December. Note that all data are on a three-month moving average (3MMA) basis.
During March, production gains were in North America, the Former Soviet Union, and Africa and Middle East, with weakness elsewhere. The Global CPRI was up 2%t year-over-year (Y/Y) on a 3MMA basis and stood at 113.9% of its average 2012 levels in February. Capacity utilization in the global chemical industry eased 0.4% points to 84.1%, down from 85.6% last March and below the long-term (1987-2017) average of 86.5%.
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