US Chemical Production Was Flat In August' | MENAFN.COM

Thursday, 06 October 2022 02:28 GMT

US Chemical Production Was Flat In August'


(MENAFN- PR Newswire)

WASHINGTON, Sept. 22, 2022 /PRNewswire/ -- The U.S. Chemical Production Regional Index (U.S. CPRI) was flat in August following a 0.2% gain in July and a 0.1% decline in June, according to the American Chemistry Council (ACC). Chemical output was higher in all regions except the Gulf Coast. The U.S. CPRI is measured as a three-month moving average (3MMA).

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Source: American Chemistry Council

On a 3MMA basis, chemical production within segments was mixed in August. There were gains in the production of coatings, adhesives, other specialty chemicals, consumer products, manufactured fibers, synthetic dyes and pigments, and industrial gases. These gains were offset by lower production of plastic resins, inorganic chemicals, organic chemicals, synthetic rubber, crop protection chemicals and fertilizers.

As nearly all manufactured goods are produced using chemistry in some form, manufacturing activity is an important indicator for chemical demand. Manufacturing output edged higher by 0.1% August (3MMA). The 3MMA trend in manufacturing production was mixed, with gains in the output of apparel, aerospace, rubber products, oil and gas extraction, plastic products, semiconductors, computers & electronics, petroleum refineries, foundries, and motor vehicles.

Compared with August 2021, U.S. chemical production was ahead by 1.3%, a faster rate of growth than last month. Chemical production was higher than a year ago in all regions except the Gulf Coast, which was 1.5% lower.

U.S. Chemical Production Regional Index, Percentage Change

(Seasonally adjusted, 3-month moving average)

Aug 22/ Jul 22

Aug 22/Aug 21

Key products

Gulf Coast

-0.3 %

-1.5 %

petrochemicals, inorganics, plastics resins, and synthetic rubber

Midwest

0.1 %

2.4 %

agricultural chemicals, plastics, and paints

Ohio Valley

0.2 %

2.9 %

organic chemicals, plastics and synthetic materials, and specialties

Mid-Atlantic

0.4 %

3.9 %

consumer products

Southeast

0.1 %

3.0 %

inorganic chemicals, fibers, and consumer products

Northeast

0.5 %

4.7 %

consumer products and specialty chemicals

West Coast

0.3 %

3.7 %

basic chemicals, agricultural chemicals, and consumer products

U.S. Total

0.0 %

1.3 %

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. The U.S. CPRI includes the most recent Federal Reserve benchmark revision released on August 28, 2022. To smooth month-to-month fluctuations, the U.S. CPRI is measured using a three-month moving average. The reading in August reflects production activity during June, July, and August.

American Chemistry Council

The American Chemistry Council (ACC) represents the leading companies engaged in the multibillion-dollar business of chemistry. ACC members apply the science of chemistry to make innovative products, technologies and services that make people's lives better, healthier and safer. ACC is committed to improved environmental, health, safety and security performance through Responsible Care®; common sense advocacy addressing major public policy issues; and health and environmental research and product testing. ACC members and chemistry companies are among the largest investors in research and development, and are advancing products, processes and technologies to address climate change, enhance air and water quality, and progress toward a more sustainable, circular economy.

SOURCE American Chemistry Council

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