US chemical activity barometer indicates growth into 2015

24 September 2013 17:27  [Source: ICIS news]

HOUSTON (ICIS)--The US economy continues to improve, and growth is expected to expand into 2015, a key chemicals sector activity measure indicated on Tuesday as it reached its highest point since June 2008.

The American Chemistry Council’s (ACC) chemical activity barometer (CAB) rose by 0.4% in September from August on a three-month moving average (3MMA) to reach 93.2.

The September 3MMA barometer is up 3.3% year on year and indicated growth in chemical equities, downstream inventory, new orders and production.

Production of plastic resins used in consumer and institutional applications continues to grow at a strong pace, according to the index.

Meanwhile, construction-related plastic resins, coatings, pigments and other chemistry are likely to continue at a moderate pace, tapering the rapid gains typically seen early in a recovery.

“The chemical activity barometer is showing a strengthening of some fundamentals, with forecasts remaining positive,” said Kevin Swift, chief economist at the ACC. “Indeed, there is potential for upside surprises in the US economy.”

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By: Tracy Dang
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