Sales of chemicals at the wholesale level grew by 1.4% in April to $8.9 billion, according to data from the American Chemistry Council’s most recent Weekly Chemistry and Economic Trends report, out today.
The 1.4% gain, which does not include pharmaceuticals, follows a 1.3% rise in March. Compared to a year ago, wholesale chemical sales were up 20.6%. The gain in wholesale chemicals mirrors a wider improvement in wholesale trade, ACC says.
"Wholesale trade in chemicals remains positive," ACC writes, "and inventories are at lean levels" all across the supply chain. The situation "bodes well" for producers, ACC remarks.
Discussing more general economic reports, ACC pointed to a disappointing retail sales report as a possible result of the "turbulence in equity markets and heightened uncertainty among consumers." Also, ACC discussed recent testimony before the House Budget Committee by Federal Reserve Chairman Ben Bernanke, in which the Fed chief cited modest rises in economic activity.