The U.S. Chemical Production Regional Index (U.S. CPRI) slipped by 0.1% in June, following a downwardly revised 0.5% decline in May, according to the American Chemistry Council (ACC; Washington, D.C.; www.americanchemistry.com). “Chemical production fell in the Gulf Coast, Midwest, Southeast and West Coast regions, and was flat in the Ohio Valley, Mid-Atlantic and Northeast regions,” ACC said it its latest Weekly Chemistry and Economic Report.
On a three-month-moving-average basis, chemical production in different sectors was mixed. “Gains in the output of inorganic chemicals, industrial gases; consumer products; pesticides; coatings and synthetic rubber were offset by lower production of plastic resins; fertilizers; adhesives; organic chemicals; and pharmaceuticals,” the ACC report says.
Compared to 2011, total chemistry production in all regions was up by 0.3%, but was down year-over-year in all regions except the Gulf Coast and Ohio Valley, the report notes.
Reviewing the week’s economic reports, ACC called them mixed, with a continued slow recovery in housing and inflation that continues to be constrained. In its periodic survey of economic forecasters, ACC found that most forecasters’ expectations for 2012 and 2013 are still positive, but these were lowered compared to earlier predictions.