23 May 2012 21:25 [Source: ICIS news]
HOUSTON (ICIS)--Global chemical production rose in April, marking its fifth straight year-on-year increase, a US chemical industry trade group said on Wednesday.
The American Chemistry Council (ACC) said that its Global Chemical Production Regional Index for April was up 2.6% year-on-year on a three-month moving average basis.
April’s index reading stood at 113.3% of its average 2007 levels, the ACC said in a report.
"Most leading indicators of global industrial activity signal a tentative recovery," the ACC said.
"Perhaps the worst is over," it added.
April’s 2.6% year-on-year increase in the global index followed revised rises of 2.4%, 2.3% and 2.1% in March, February and January, respectively. The ACC had initially reported increases of 1.5%, 1.9% and 2.0% for those months.
North American regional production of chemicals was up 0.6% year on year in April. The ?xml:namespace>
Chemical production in western Europe was down 2.1% year on year in April but appeared to be stabilising, the ACC said.
Asia-Pacific chemical production rose by 7.6% year on year in April, driven mainly by China and South Korea.
In terms of product segments, man-made fibres had the highest year-on-year increase in April, rising 8.3% year on year, followed by agricultural chemicals, up 7.3% year on year, and synthetic rubber, up 7.0%.Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy Blog
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