U.S. Chemical Production Edged Higher in November

WASHINGTON, Dec. 18, 2018 /PRNewswire/ -- According to the American Chemistry Council (ACC), the U.S. Chemical Production Regional Index (U.S. CPRI) rose by 0.2 percent in November, following a 0.5 percent decline in October and a 0.2 percent decline in September. During November, chemical output rose across all regions except the Gulf Coast, where it edged lower.

Chemical production was mixed over the three-month period. There were gains in the production three-month moving average output trend in plastic resins, adhesives, pesticides, coatings, fertilizers, consumer products, and synthetic dyes and pigments. These gains were offset by declines in the output trend in organic chemicals, synthetic rubber, manufactured fibers, chlor-alkali, other inorganic chemicals, and other specialty chemicals.

Nearly all manufactured goods are produced using chemistry in some form or another. Thus, manufacturing activity is an important indicator for chemical production. On a three-month-moving average basis, manufacturing activity was flat in November, following a 0.2 percent gain in October. Output expanded in several chemistry-intensive manufacturing industries, including appliances, aerospace, machinery, fabricated metal products, semiconductors, petroleum refining, iron and steel products, foundries, plastic products, rubber products, tires, and furniture.

Compared with November 2017, U.S. chemical production rose 4.2 percent on a year-over-year basis. Chemical production was higher than a year ago in all regions, with the largest gains in the Gulf Coast.

The chemistry industry is one of the largest industries in the United States, a $526 billion enterprise. The manufacturing sector is the largest consumer of chemical products, and 96 percent of manufactured goods are touched by chemistry. The U.S. CPRI was developed to track chemical production activity in seven regions of the United States. The U.S. CPRI is based on information from the Federal Reserve, and as such, includes monthly revisions as published by the Federal Reserve. To smooth month-to-month fluctuations, the U.S. CPRI is measured using a three-month moving average. Thus, the reading in November reflects production activity during September, October, and November.

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The American Chemistry Council (ACC) represents the leading companies engaged in the business of chemistry.  ACC members apply the science of chemistry to make innovative products and services that make people's lives better, healthier and safer.  ACC is committed to improved environmental, health and safety performance through Responsible Care, common sense advocacy designed to address major public policy issues, and health and environmental research and product testing.  The business of chemistry is a $526 billion enterprise and a key element of the nation's economy.  It is one of the nation's largest exporters, representing fourteen cents out of every dollar in U.S. exports. Chemistry companies are among the largest investors in research and development.  Safety and security have always been primary concerns of ACC members, and they have intensified their efforts, working closely with government agencies to improve security and to defend against any threat to the nation's critical infrastructure.

SOURCE American Chemistry Council