21 May 2010 18:32 [Source: ICIS news]
HOUSTON (ICIS news)--US Gulf coast chemical production in April rose by 0.7% from March as basic chemicals demand increased, the American Chemistry Council (ACC) said on Friday.
The US Gulf coast region - dominated by of building block materials such as petrochemicals, inorganics and synthetic materials - also gained 0.8% in March, the ACC noted in its weekly economic report.
“It is apparent that demand for many of the basic chemicals produced in the Gulf coast region continues to build momentum,” the ACC said.
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Meanwhile, the ACC's global production index rose 0.6% in April largely as a result of the Asia-Pacific region.
The ACC also noted that
The increase in the global production index was the 13th in 14 months, suggesting a V-shaped recovery for the global chemical marketplace, the ACC said.
The May edition of the ACC’s Economic Forecasters Survey revealed that expectations for
This year's expectations for consumer spending, business investment, housing starts and industrial production were all higher in the May survey relative to April.
A pair of manufacturing surveys from the
Meanwhile, “the existential crisis in the Eurozone continues and fear has returned,” the ACC cautioned. “Global equity market jitters continue.” To discuss issues facing the chemical industry go to ICIS connect
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