According to American Chemistry Council (ACC) Weekly Chemistry & Economic Trends report on April 21, 2023, chemical railcar loadings were up 5.3% to 33,206 for the week ending 15 April (week 15). Loadings were down 6.7% Y/Y (13-week MA), down 6.6% YTD/YTD and have been on the rise for 9 of the last 13 weeks according to data released by the Association of American Railroads
The U.S. Chemical Production Regional Index (U.S. CPRI) jumped by 2.6% in March following a 0.7% decline in January and a 0.9% gain in February, according to the American Chemistry Council (ACC).
- The gain in March reflects a bump in chemical production that followed a tough Q4 when producers were challenged by customer destocking and winter-weather related disruptions.
- Chemical output trends rallied in March and were higher than a month ago in all regions, with the largest gain in the Gulf Coast, home to much of the nation’s basic industrial chemical and synthetic materials capacity.
- Output of plastic resins, organic chemicals, industrial gases, coatings, adhesives, crop protection chemicals, synthetic dyes & pigments, synthetic rubber, consumer products, and other specialty chemicals were higher.
- Gains were offset by lower production of synthetic rubber and fertilizers.
As nearly all manufactured goods are produced using chemistry in some form, manufacturing activity is an important indicator for chemical demand.
U.S. manufacturing output rose 0.5% in March on a 3MMA basis. The 3MMA trend in manufacturing production was mixed, with output in several chemistry-consuming segments continuing to contract. Output continued to expand, however, in food & beverage, appliances, motor vehicles & parts, construction supplies, machinery, electronics, semiconductors, refining, iron & steel products, foundries, plastic products, paper, printing and apparel.
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.
For More Information
ACC members can access additional data, economic analyses, presentations, outlooks, and weekly economic updates through MemberExchange.
In addition to this weekly report, ACC offers numerous other economic data that cover worldwide production, trade, shipments, inventories, price indices, energy, employment, investment, R&D, EH&S, financial performance measures, macroeconomic data, plus much more. To order, visit http://store.americanchemistry.com/.
Every effort has been made in the preparation of this weekly report to provide the best available information and analysis. However, neither the American Chemistry Council, nor any of its employees, agents or other assigns makes any warranty, expressed or implied, or assumes any liability or responsibility for any use, or the results of such use, of any information or data disclosed in this material.
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.
