The American Chemistry Council (ACC) said that the US Chemical Production Regional Index (US CPRI) gained 0.8% on a three-month moving average basis in July after declining by 1.6% in June and 2.0% in May. According to ACC, all regions showed improved chemical output last month, with the Gulf Coast, Midwest, and Ohio Valley regions reporting the sharpest increases.
ACC noted that output of chemicals, including fertilizers, organic chemicals, plastic resins, chlor-alkali, consumer products, industrial gases, and synthetic dyes and pigments, increased in July. Meanwhile, the production of adhesives, synthetic rubber, coatings, crop protection, manufactured fibres, and other specialty chemicals declined.
US chemical production fell by 5.9% from July last year, marking the fourteenth straight month of yearly declines, despite improving in the past several months. According to ACC, chemical output stayed below the year-ago levels in all regions, with the Northeast and West Coast regions recording the sharpest year-on-year declines.
