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
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections