The Global Chemical Production Regional Index (Global CPRI) rose 0.4% in March, on a three-month-moving-average basis, according to the American Chemistry Council (ACC; Washington, D.C.; www.americanchemistry.com).
Production gains in the Western Europe, Asia-Pacific, and Africa and Middle East regions offset small declines and flat growth in the other major regions of the world, the latest ACC Weekly Chemistry and Economic Report said.
The report adds that production rose in all major chemical sectors, with the exception of human-made fibers. The Global CPRI Index is up 4.9% year-over-year, also on a three-month moving average basis, the ACC report said.
Despite the growth in chemical production chemical equities retreated slightly in the month following. The S&P Index for chemical companies was down 1.3% during April, according to the ACC report, but was still 4.3% higher that its level at the beginning of 2014. The overall S&P 500 Index slipped by 0.3% in April and is up 1.9% from the beginning of the year.