The Global Chemical Production Regional Index (Global CPRI) rose in January on a three-month-moving-average basis, as did the U.S. CPRI, the American Chemical Council (ACC; Washington, D.C.; www.americanchemistry.com) said in its latest Weekly Chemistry and Economic Report.
ACC’s Global CPRI rose 0.4% in January, “indicating that production during 2015 started on a good note,” the ACC report says. The chemical production index rose in North America, Western Europe, Africa & the Middle East, and the Asia-Pacific region, according to the report.
The Global CPRI was up 3.3% from last year at the same time.
Meanwhile, the U.S. CPRI also rose 0.4% in January, following a downwardly revised 0.3% gain in December of last year, the ACC report says.
The report notes that the gain in January was the tenth consecutive monthly gain in the U.S. CPRI, and all geographic regions of the U.S. posted gains in January. Compared to January 2014, total chemical production in all U.S. regions was ahead by 4.6%, the ACC report says.
By chemical segment, however, chemical production in the U.S. was mixed. “There were gains in the output of organic chemicals, chlor-alkali, synthetic rubber, synthetic dyes and pigments, industrial gases, consumer products, and pharmaceuticals,” the ACC report says, but these gains were partially offset by “declines in the production of fertilizers, coatings, adhesives, plastic resins, synthetic fibers, acids, pesticides, and other inorganic chemicals, the report notes.
Assessing the week’s economic reports overall, ACC says the data convey “a cautious mood” and reflect, in part, “the effects of a difficult winter in some parts of the country.” The ACC’s Chemical Activity Barometer (CAB) edged lower in February, suggesting moderating growth prospects, the ACC report says.