In January, overall chemical production in the U.S. rose by 0.3% to 89.6% of its 2007 average, according to U.S. Bureau of Labor Statistics data analyzed by the American Chemistry Council (ACC; Washington, D.C.; www.americanchemistry.com).
In its latest Weekly Chemistry and Economic Report, ACC says that the pattern for U.S. chemical production levels has been uneven in recent months. “That two months [in a row] have been strong is encouraging,” the ACC report says.
Broken down by sectors, production was especially strong outside of pharmaceuticals, the ACC report points out. For example, production of basic chemicals, inorganic chemicals, synthetic rubber and manmade fibers all rose, while plastic resins were down for January. Production of bulk petrochemicals, organic intermediates and specialty chemicals were also up in January, according to the ACC analysis.
Summarizing the week’s economic reports, ACC said that U.S. data were mostly positive, with inflation remaining constrained and the housing market showing signs of "mending." Also, “Inventory accumulation along the supply chain is contributing to growth,” the report remarks.
Areas outside the U.S. showed weaker production, however, with industrial production in Europe slipping for the fourth consecutive month, and at accelerated pace, the report adds. “Production was weak elsewhere, but seems to be stabilizing in some of the East Asian economies,” the report states.
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