Chemical Railcar Loadings
American Chemistry Council (ACC) Weekly Chemistry & Economic Trends report on September 30, 2022 publication shows that data released by the Association of American Railroads chemical railcar loadings were down 8.2% to 30,261 during the week ending 24 September. Loadings were down 0.1% Y/Y (13-week MA), up 3.4% YTD/YTD and have been on the rise for six of the last 13 weeks.
US Chemical Production Regional Index
The U.S. Chemical Production Regional Index (U.S. CPRI) was flat in August following a 0.2% gain in July and a 0.1% decline in June, according to the American Chemistry Council (ACC). Chemical output was higher in all regions, except the Gulf Coast. The U.S. CPRI is measured as a three-month moving average (3MMA). Compared with August 2021, U.S. chemical production was ahead by 1.3%, a faster rate of growth than last month. Chemical production was higher than a year ago in all regions except the Gulf Coast, which was 1.5% lower.
On a 3MMA basis, chemical production within segments was mixed in August. There were gains in the production of coatings, adhesives, other specialty chemicals, consumer products, manufactured fibers, synthetic dyes & pigments, and industrial gases. These gains were offset by lower production of plastic resins, inorganic chemicals, organic chemicals, synthetic rubber, crop protection chemicals and fertilizers.
As nearly all manufactured goods are produced using chemistry in some form, manufacturing activity is an important indicator for chemical demand. Manufacturing output edged higher by 0.1% August (3MMA). The 3MMA trend in manufacturing production was mixed, with gains in the output of apparel, aerospace, rubber products, oil & gas extraction, plastic products, semiconductors, computers & electronics, petroleum refineries, foundries, and motor vehicles.
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