Global chemical industry production rose by 0.6% in April, the 13th gain in the past 14 months, according the American Chemistry Council (ACC; Arlington, Va.; www.americanchemistry.com).
ACC’s Weekly Chemistry and Economic Trends report for May 21 states that production gains globally "were broad-based," and production was up 11.1% compared to a year ago, on a three-month-moving-average (3MMA) basis. Comparisons to a year earlier have improved in each global region, ACC notes. "Most leading indicators of global industrial production suggest further recovery [over the second half of 2010], although the pace will slow," the ACC report states.
In North America, chemical production was up 5.7% over a year ago, while Latin America was up 14.2%, the same total posted by the Asia-Pacific region. Chemical production in Western Europe was up 10.8% over the same time in 2009, and the Middle East and Africa’s production was up 10.1%. Central and Eastern Europe production was 19.6% greater.
In the U.S., chemical production actually slipped by 0.1% in April, although some subregions did post gains, according to the latest ACC report. Chemical production in the Gulf Coast and Ohio Valley regions showed gains, while the Midwest, Mid-Atlantic, Southeast, Northeast and West Coast posted declines.
The ACC market capitalization of basic and specialty chemicals fell by 7.5% from last week, to $486.4 billion, its lowest level since September 2009, the report points out. The S&P 500 index was down 7.4% for the week ending May 20.