According to American Chemistry Council (ACC) Weekly Chemistry & Economic Trends report on May 19, 2023, chemical railcar loadings were down by 1,707 cars to 31,377 for the week ending 13 May. Loadings were down 4.7% Y/Y (13-week MA), down (-5.8%) YTD/YTD and have been on the rise for seven of the last 13 weeks according to data released by the AAR.
Chemical production rose by 0.4% in April. There were gains in agricultural chemicals and consumer products, a small decline in specialties and no growth in basic chemicals. Within basic chemicals, gains in the production of inorganic chemicals and plastic resins offset declines in the output of organic chemicals and other synthetic materials. Capacity utilization tightened in April, up to 80.2%. Both production and capacity utilization were below year ago levels.
Note On the Color Codes
The banner colors represent observations about the current conditions in the overall economy and the business chemistry. For the overall economy we keep a running tab of 20 indicators. The banner color for the macroeconomic section is determined as follows:
Green – 13 or more positives
Yellow – between 8 and 12 positives
Red – 7 or fewer positives
For the chemical industry there are fewer indicators available. As a result, we rely upon judgment whether production in the industry (defined as chemicals excluding pharmaceuticals) has increased or decreased three consecutive months.
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ACC_EconomicsDepartment@americanchemistry.com
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.
