The global chemical production regional index (Global CPRI) fell 0.1% in December, the fourth consecutive monthly decline. Similarly, the U.S. chemical production regional index (U.S. CPRI) also slipped by 0.1% in December, following a revised 0.1% decline in November. The data are included in the latest Weekly Chemistry and Economic Report from the American Chemistry Council (ACC; Washington, D.C.; www.americanchemistry.com).
The Global CPRI was up only 2.0% from last year, on a three-month moving average basis, and for 2011, global production rose 4.3%, ACC noted. Further, most leading indicators of global industrial activity signal further softness, the report said. Weakness was particularly pronounced in Western Europe and in many Asian nations, ACC adds.
In the U.S., results were mixed within the different regions, with production increasing in the Mid-Atlantic, Northeast and West Coast regions, while production in the rest of the regions either fell or was flat.
Assessing the week’s economic reports, ACC said the news was mostly positive overall, but the housing segment still struggles. ACC says the Conference Board’s leading economic index (LEI) continues to argue for continued expansion of the U.S. economy.