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Chemical Production Regional Index Slips by 0.1 % in September: ACC

Published on 2015-10-30. Author : SpecialChem

WASHINGTON -- According to the American Chemistry Council (ACC), the U.S. Chemical Production Regional Index (U.S. CPRI) slipped by 0.1 percent in September, following a downwardly revised 0.2 percent gain in August, and a 0.4 percent gain in July.

American Chemistry Council
Fig. 1: American Chemistry Council

Over the same period, chemical production by segment was mixed. There were gains in the output of organic chemicals, consumer products, and inorganics (especially chlor-alkali). At the same time, there were declines in the production of adhesives, fertilizers, plastic resins, synthetic rubber, pharmaceuticals, coatings, pesticides, manufactured fibers, and other specialties.

Nearly all manufactured goods are produced using chemistry in some form or another. Thus, manufacturing activity is an important indicator for chemical production. On a three-month-moving average basis, manufacturing activity edged higher by 0.2 percent in September, following similar gains in July and August. Production expanded in several chemistry-intensive manufacturing industries, including motor vehicles, aerospace, machinery, plastic products, rubber products, structural panels, printing, apparel, and furniture.

Compared to September 2014, U.S. chemical production was up 2.6 percent on a year-over-year basis, a weakening from August’s year-over-year gain of 3.1 percent. Chemical production remained ahead of year ago levels in all regions.

The chemistry industry is one of the largest industries in the United States, an $801 billion enterprise. The manufacturing sector is the largest consumer of chemical products, and 96 percent of manufactured goods are touched by chemistry. The U.S. CPRI was developed to track chemical production activity in seven regions of the United States. The U.S. CPRI is based on information from the Federal Reserve, and as such, includes monthly revisions as published by the Federal Reserve. To smooth month-to-month fluctuations, the U.S. CPRI is measured using a three-month moving average. Thus, the reading in September reflects production activity during July, August, and September.

About ACC

The American Chemistry Council's (ACC's) mission is to deliver business value through exceptional advocacy using best-in-class member performance, political engagement, communications and scientific research. It is committed to sustainable development by fostering progress in our economy, environment and society. ACC is America's oldest trade association of its kind, representing companies engaged in the business of chemistry - an innovative, $720 billion enterprise that is helping solve the biggest challenges facing our nation and the world.

Source: ACC
 

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