24 September 2012 17:54 [Source: ICIS news]
In addition, the American Chemistry Council (ACC) said that US chemicals output last month was down by 0.4% from August 2011, the first negative year-over-year comparison in a year.
In its monthly report on the nation’s chemicals output – the
“Chemical production declined in all regions except the
The downturn in
“A three-month moving average also showed output of the nation’s overall manufacturing sector to be flat in August, following a downwardly revised 0.1% gain in July,” the council’s report noted.
The general health of the
In addition to the
“As a result, manufacturing, which had been a driver of the recovery, has softened in recent months,” the report said.
The decline in US chemicals output combined with downturns in chemicals production in the EU and eastern Europe almost completely offset a nearly 8% gain in Asia Pacific chemicals manufacturing in August, lowering the global chemicals output gain to a mere 0.1%.
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