ACC Reports Chemical Production in US Ended on a High Note
WASHINGTON – The U.S. Chemical Production Regional Index (U.S. CPRI) rose 1.2% in December following a 0.6% gain in November and a 1.2% increase in October, according to the American Chemistry Council (ACC). During December, chemical output grew in all regions, with the largest gains occurring in the Gulf Coast and Midwest regions. Chemical production expanded in all segments except miscellaneous other inorganic chemicals. The U.S. CPRI is measured on a three-month moving average (3MMA) basis.
As nearly all manufactured goods are produced using chemistry in some form, manufacturing activity is an important indicator for chemical demand. The manufacturing recovery continued for a sixth straight month in December, with overall factory activity up 1.1% (3MMA). The trend in production rose in nearly all key chemistry end-use industries, with the strongest gains seen in iron and steel, appliances, aerospace, construction supplies, foundries, plastic products, tires, paper, structural panels, and apparel.