July chem production jumps in Asia, continues drop in west Europe

20 August 2012 23:56  [Source: ICIS news]

HOUSTON (ICIS)--The American Chemistry Council’s (ACC) measure of global chemical production rose by 0.4% in July from June, led by the Asia-Pacific region, while another decline was seen in western Europe, the group said on Monday.

The rise in the Global Chemical Production Regional Index (Global CPRI) marked the eighth month of gains. Year on year, the index rose by 3.2% over July 2011. The index consists of a three-month moving average.

However, production capacity utilisation was down month on month by 0.5% in July at 84.7%. Capacity utilisation in July 2011 was 87.3%. Global capacity was up 6.4% year on year on a three-month moving basis.

Led by China, production in the Asia-Pacific region increased year on year by 8.4%.

Production in western Europe fell again during July, down by 1.9% year on year.

Production volumes in North America increased by 0.6% year on year.

“Headline production in North America was generally on an upward trend since December 2008 but has slowed since mid-2011,” the ACC said. “Recent data for the US show that overall production fell during July. The weakness was in agricultural chemicals and consumer products.”

By: Brian Ford
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