Chemical production was up in the U.S. in December, according to new data published today by the American Chemistry Council (ACC; Washington, D.C.; www.americanchemistry.com)
“U.S. chemical production continued to expand during the last month of 2024, up by 1.2%” said David Lan, ACC’s Director of Economics and Statistics. “Production rose in all regions of the country with the most gains observed in the West Coast region.” “Global production picked up towards the end of the year with a 1.1% gain recorded in December,” Lan added. “Output increased in most regions despite some weakness in Europe and Japan. The most significant gains were seen in China, as manufacturers and exporters may have rushed to fulfill orders ahead of possible tariffs.”
The following items are among the key findings from the ACC data:
- Production Up: Output in the U.S. increased in December as U.S. manufacturing activity improved. Capacity utilization also tightened. Production rose year-over-year.
- Mixed Bag: The gain in December mostly reflects higher chemical production in the U.S. and China, with the rise in China at 2% outpacing the U.S. at 1.2%. European production stabilized but remained weak. Some major producers in Asia saw declines. Production was up worldwide compared to the same month last year.
- Gains Across the Board: In the U.S., all chemical segments showed strength, with basic chemicals leading in December. Global output was up in all segments, with basic chemicals leading the pack.