According to American Chemistry Council (ACC) Weekly Chemistry & Economic Trends report on December 23, 2022, chemical railcar loadings were up for a third consecutive week to 31,342 for the week ending 17 December. Loadings were down 8.2% Y/Y (13-week MA), up (0.5%) YTD/YTD and have been on the rise for seven of the last 13 weeks.
The U.S. Chemical Production Regional Index (U.S. CPRI) fell by 0.4% in November following declines of 0.4% in September and 0.3% in October, according to ACC. Chemical output was lower than a month ago in all regions. The U.S. CPRI is measured as a three-month moving average (3MMA). Compared with a year ago, total U.S. chemical production was essentially unchanged (up 0.1%). Chemical production was higher than a year ago in all regions, except the Gulf Coast.
On a 3MMA basis, chemical production within segments was mixed in November. There were gains in the production of coatings, adhesives, and other specialty chemicals; industrial gases; synthetic dyes and pigments; and other inorganic chemicals. These gains were offset by lower production of plastic resins; organic chemicals; synthetic rubber; manufactured fibers; consumer products; fertilizers and crop protection chemicals.
As nearly all manufactured goods are produced using chemistry in some form, manufacturing activity is an important indicator for chemical demand. Manufacturing output was flat in November on a 3MMA basis. The 3MMA trend in manufacturing production was mixed, with gains in the output of food & beverages, appliances, motor vehicles, aerospace, fabricated metal products, machinery, computers & electronics, foundries, rubber products, 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.
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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.
