Le Lézard
Classified in: Oil industry
Subject: SVY

Growth in U.S. Chemical Production Lost Momentum During October


WASHINGTON, Nov. 21, 2019 /PRNewswire/ -- According to the American Chemistry Council (ACC), the U.S. Chemical Production Regional Index (U.S. CPRI) edged higher by 0.2 percent in October following gains of 0.5 percent in September and 0.2 percent in August. During October, chemical output increased at a slower pace across all regions.

Chemical production was mixed over the three-month period. There were gains in the production three-month moving average (3MMA) output trend in plastic resins, chlor-alkali, pesticides, organic chemicals, consumer products, adhesives, coatings and other specialty chemicals. These gains were offset by declines in the output of synthetic rubber, miscellaneous inorganic chemicals, synthetic dyes and pigments, industrial gases fertilizers and manufactured fibers.

Nearly all manufactured goods are produced using chemistry in some form. Thus, manufacturing activity is an important indicator for chemical production. On a 3MMA basis, manufacturing activity edged lower in October, off by 0.2 percent. Output expanded in several chemistry-intensive manufacturing industries, including food and beverages, aerospace, computers, semiconductors, iron and steel products, foundries, oil and gas extraction, rubber products, paper, structural panels, and printing.

Compared with October 2018, U.S. chemical production was off by 0.6 percent on a year-over-year basis. Chemical production was lower than a year ago in the Gulf Coast and Midwest, but up slightly in other regions.


U.S. Chemical Production Regional Index, Percentage Change

(Seasonally adjusted, 3-month moving average)







Oct 19/

Sep 19

Oct 19/

Oct 18

Key products


Gulf Coast

0.2%

-1.3%

petrochemicals, inorganics, plastics resins, and synthetic rubber


Midwest

0.2%

-0.4%

agricultural chemicals, plastics, and paints


Ohio Valley

0.2%

0.1%

organic chemicals, plastics and synthetic materials, and specialty chemicals


Mid-Atlantic

0.3%

0.1%

consumer products


Southeast

0.2%

0.2%

inorganic chemicals, fibers, and consumer products


Northeast

0.3%

0.5%

consumer products and specialty chemicals


West Coast

0.3%

0.2%

basic chemicals, agricultural chemicals, and consumer products


     U.S. Total

0.2%

-0.6%









The chemistry industry is one of the largest industries in the United States, a $553 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 October reflects production activity during August, September, and October.

http://www.americanchemistry.com/newsroom 
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 $553 billion enterprise and a key element of the nation's economy.  It is one of the nation's largest exporters, representing ten 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


These press releases may also interest you

3 jui 2020
The Brandt Group of Companies is pleased to announce that, effective July 2, they have successfully acquired the assets of Ontario-based Sokkia Canada. This acquisition, which directly affects the Ontario and Quebec markets, makes Brandt the...

3 jui 2020
Onshore and offshore installation work has been conducted throughout the week in Minesto's tidal energy project in Vestmannasund, Faroe Islands, involving Minesto, SEV and supplier personnel. The subsea cable installation that connects to the...

3 jui 2020
Top Strike Resources Corp. d.b.a. "Vencanna Ventures" (the "Company" or "Vencanna") is pleased to announce the issuance of an Unsecured Convertible Debenture in the principal amount of US$1,300,000.00 (the "Debenture") to a private investment fund...

3 jui 2020
SunPower Corp. received the prestigious Smarter E-Award in the "Outstanding Projects" category in recognition of Powerhouse Brattørkaia, an 18,580-square-metre energy-positive future-proof office building located in Trondheim, Norway. SunPower...

2 jui 2020
Enbridge Inc. (Enbridge) announced today that Algonquin Gas Transmission, LLC (Algonquin) has received approval from the Federal Energy Regulatory Commission (FERC) of its uncontested rate settlement with customers. Additionally, this uncontested...

2 jui 2020
COSAN LIMITED , Cosan S/A and Cosan Logística S/A  are pleased to announce to all employees, partners, clients, and stakeholders the publication of the 2019 Annual Sustainability Report. Sustainability has always been integrated into Cosan Group's...



News published on 21 november 2019 at 17:02 and distributed by: