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United States: Global Chemicals Production Continues On Solid Pace

2017/10/06

The American Chemistry Council’s World Chemical Production Regional Index (World CPRI) shows that increase in world chemistry during August continued on a solid pace but was weighed down by effects of Hurricane Harvey. World chemicals production rose 0.4 % in August, easing from a 0.5 % gain in July, as measured on a three-month moving average (3MMA) basis. During August, production increased in Western Europe, Africa & the Middle East and the Asia-Pacific region but was soft elsewhere. The World CPRI was up 3.1 % year-over-time(Y/Y) on a 3MMA basis and stood at 111.5 % of its average 2012 levels in August.

During August, capacity utilization in the world business of chemistry rose 0.1 % points to 80.7 %. This is up from 80.3 % last August and is below the long-term (1987-2016) average of 88.8 %.

Results were generally positive on a product basis during August, with gains in pharmaceuticals, organic chemicals, plastic resins, manufactured fibers, coatings, and other specialty chemicals. Considering year-over-year comparisons, increase was strongest in coatings followed by pharmaceuticals and organic chemicals.

ACC’s World CPRI measures the production volume of the business of chemistry for 33 key nations, sub-regions, and regions, all aggregated to the world total. The index is comparable to the Federal Reserve Board (FRB) production indices and features a similar base year where 2012=100. This index is developed from government industrial production indices for chemicals from over 65 nations accounting for about 98 % of the total world business of chemistry. This data are the only timely source of market trends for the world chemical industry and are comparable to the US CPRI data, a timely source of U.S. regional chemical production.

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