The Global Chemical Production Regional Index (Global CPRI) from the American Chemistry Council (ACC; Washington, D.C.; www.americanchemistry.com) rose 0.1% in July on a three-month-moving-average (3MMA) basis.
The small gain indicates that “growth remained tepid at the start of the 3rd quarter,” the most recent ACC Chemistry and Economic Report says. Production gains occurred in North America, Africa & the Middle East, and the Asia-Pacific region, while contracting in Latin America and Europe.
Meanwhile, chemical production in the U.S. expanded by 0.4% in July on a 3MMA basis, after a downwardly revised 0.2% gain in June. “Chemical output remained ahead of previous month levels in all geographic regions,” the ACC report said.
Overall, the week’s economic reports were positive for the U.S., the ACC weekly report said, but noted that “while the U.S. economy has been showing signs of improvement, there are signals that growth in the rest of the world is halting.”