03 June 2013 21:59 [Source: ICIS news]
WASHINGTON (ICIS)--Weakening performance among manufacturing industries in recent months has softened demand for chemicals, the American Chemistry Council (ACC) said on Monday, although consumption is running slightly ahead of a year ago.
The council also revised its March CPRI downward to a 0.5% decline from February.
“As manufacturing has weakened during recent months, demand for chemistry has softened,” the ACC said.
The council’s report on softening chemicals demand among manufacturers followed a manufacturing survey earlier on Monday showing that US production industries slipped into contraction in May.
However, the council said, US chemicals production in April was up by 0.5% from the same month in 2012 and followed a 0.3% year-over-year gain in March.
“Comparing the first four months of 2013 to those in 2012, chemical production was up 0.6% nationally,” the council said.
Paul Hodges studies key influences shaping the chemical industry in Chemicals and the Economy
|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