02 July 2013 16:33 [Source: ICIS news]
HOUSTON (ICIS)--The value of US-made chemical shipments rose a little in May year on year, according to data released on Tuesday by the US Department of Commerce.
The value of US land and water chemical shipments totalled $63.71bn (€49.06bn) in May, up by about 0.7% compared with $63.26bn a year earlier.
US chemical shipments fell slightly in March and April - by less than 1% for both months - compared with totals in the same months of 2012.
Petrochemicals, the largest chemical sector tracked by the census, declined again in May, following a dip in April. Petchem shipment values dropped by about 1.7% to $42.10bn versus $42.84bn in May a year ago.
The value of total shipments for all US manufacturing industries in May pushed its string of year-on-year gains to 42 straight months. That streak began in December 2009.
Total manufacturing shipments rose by about 1.6% to $483.58bn, compared with $475.95bn in May 2012, the data showed. This includes fabricated metal and wood products, furniture, and all machinery including computers, transportation and electrical equipment.
Only two sectors showed gains in May, led by pharmaceuticals and medicines, with $15.61bn in shipments, up more than 8% over $14.39bn in the same month of 2012.
The other positive category - paints, coatings and adhesives - put up the 20th straight month of year-on-year gains with an increase of more than 6% in shipment values, totalling $3.12bn in May, compared with $2.94bn in the same month a year earlier.
Besides petrochemicals, the other sector in negative territory - pesticides and fertilizers - fell for the 14th month in a row.
Global production issues and the US drought have brought double-digit percentage declines year on year starting in May 2012. Pesticides and fertilizer shipment values fell to $2.86bn, about a 7% drop from $3.08bn in April 2012.
($1 = €0.77)
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