US chemical output up marginally in January

15 February 2008 18:06  [Source: ICIS news]

WASHINGTON (ICIS news)--US chemicals production edged up slightly in January by 0.1% compared with December, reflecting an overall slim increase in US industrial output for the month, according to data issued on Friday by the Federal Reserve.

 

The Fed, the US central bank, said that overall US industrial production last month also rose by a razor-thin 0.1%.  However, compared with January 2007, last month’s industrial output showed a 2.3% gain.

 

Output in the general manufacturing sector was unchanged in January, with sizable gains for computer and electronic products and transportation equipment offset by declines in motor vehicles and parts, wood products and furniture.

 

US manufacturing industries constitute an important downstream consuming sector for chemicals and chemical-related products.

 

The Fed reported that while US chemicals production rose 0.1% in January, output of plastics and rubber products declined by 1.5%, perhaps reflecting the decline in automotive manufacturing and the continuing slump in US new home construction.

 

However, the 0.1% gain for chemicals output marked a modest recovery for the sector, which had seen declines ranging from 0.2% to 0.8% in the last three months of 2007.

 

Compared with January 2007, US chemical production last month was up by 0.2% and plastics and rubber products saw a gain of 1.2%.

By: Joe Kamalick
+1 713 525 2653

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