The Global Chemical Production Regional Index (Global CPRI) rose 0.1% in August, according to the American Chemistry Council (ACC; Washington, D.C.; www.americanchemistry.com). While the Global CPRI gain continues a string of gains for the past several months, the pace has slowed, ACC pointed out in its latest Weekly Chemistry and Economic Report.
Meanwhile, the U.S. CPRI slipped by 0.2% in August, following a revised 0.5% decline in July. Chemical production declined in all regions except the Gulf Coast, which posted a gain, and the Ohio Valley, which was flat, the ACC report said.
The week’s economic reports were mixed, with data indicating an improving housing sector in the U.S., but reports from overseas indicate weak activity in a number of European nations and China. A survey of economic forecasters conducted by ACC suggested that the economy in general continues to face strong headwinds, and as a result, the pace of economic growth is unlikely to change significantly in the coming months.