21 December 2012 17:27 [Source: ICIS news]
HOUSTON (ICIS)--US chemical production remained steady in November, following a revised 0.1% decline in October, the American Chemistry Council (ACC) said on Friday. Total chemical production for November was still up by 0.2% year on year.
The trade group’s US Chemical Production Regional Index (CPRI) showed a decline in its largest region, the Gulf coast, which slipped by 0.1%.
However, the decline was offset by increases in all other regions, including a 0.3% gain in the northeast region. Chemical production also rose by 0.2% in the mid-Atlantic and west coast regions, while the midwest, southeast and Ohio Valley regions had 0.1% gains.
Still, the CPRI’s three-month moving average showed an increase of 0.1% in November, following a 0.6% decline in October.
“Some of the gains reflect rebounding activity following disruptions caused by Superstorm Sandy, but other gains reflect more sustainable trends,” the ACC said.
Chemical production increased in the output of organic chemicals, plastics, manmade fibres, synthetic fibres, consumer products, pharmaceuticals and other speciality chemicals, the ACC said.
However, they were offset by lower production of pesticides, fertilizers, inorganic chemicals, industrial gases, coatings and adhesives, the ACC added.
Markets that benefitted from the gains included appliances, motor vehicles, aerospace, construction materials, structural panels, plastic and rubber products, paper, textile products and apparel.
The chemical sector is one of the largest industries in the US, contributing $760bn (€577.6bn), the ACC said. About 96% of manufactured goods are touched by chemistry.
($1 = €0.76)
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