Overall production from the U.S. chemical industry rose by 0.2% in March, but the pattern has been uneven over the past several months, according to the latest Weekly Chemistry and Economic Report from the American Chemistry Council (ACC; Washington, D.C.; www.americanchemistry.com).
Citing data from the U.S. Federal Reserve Board, ACC said that in March, production of basic chemicals rose 0.8%, and inorganic chemicals gained 1.3%. A rise in the production of manmade fibers more than offset a decline in plastic resins, while production of specialty chemicals fell 0.5% and production of bulk petrochemicals and organic intermediates rose 0.6%, the ACC report says.
On a three-month-moving average basis, U.S. chemical production is higher than the same period in 2011 by 1.3%.
Summarizing the week’s economic report, the ACC said the data were mixed. Consumer retail sales were up as the job market improves, the report said, and “business inventories continued to build,” the ACC report said, adding that inventories continue to be balanced against sales.
Housing starts fell, and the “overhang of supply continues to weigh heavily on the recovery in housing,” the report says.