07 March 2013 00:05 [Source: ICIS news]
HOUSTON (ICIS)--US petrochemical production along the US Gulf Coast rose year on year across most product categories, while refinery operating rates declined and margins increased during the reporting period, the Federal Reserve said on Wednesday in its March Beige Book.
Reports from the 12 Federal Reserve districts indicated that ?xml:namespace>
The Gulf Coast is part of the 11th district in
In the energy sector, activity remained at high levels across the districts, and respondents at energy-related service firms told the Fed that the number of active drilling rigs seems to have bottomed out. Contacts told the Fed that expectations for average drilling activity in 2013 are being revised up, with most of the improvement expected to occur in the second half of the year.
Several transportation service firms told the Fed that demand weakened since its last report, but overall outlooks were improved. Railroad sources said cargo volumes were down, although petroleum shipments were up strongly.
Housing sources told the Fed that demand for new and existing homes remained strong, while real estate sources noted that extremely low inventories were leading to price increases.
Automobile sales were strong or solid most districts, contacts told the Fed.
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