HOUSTON (ICIS)--Global chemical production was stable in January, following a 0.3% gain in December, the American Chemistry Council (ACC) said on Tuesday in its latest Global Chemical Production Regional Index (Global CPRI).
“All chemical industry segments have improved from the recession, with the most pronounced recovery having occurred in cyclical segments,” the report said.
“During January, results were mixed on a product basis, with weakness in agricultural chemicals, consumer products, petrochemicals and organics, plastic resins, synthetic rubber, manufactured fibres and coatings."
Production gains by region were mixed, with growth in Europe, the Former Soviet Union and the Africa-Middle East region offsetting declines in other areas, the report said.
Chemical production in North America fell by 0.1% in January from December on a 0.3% decline in the US. Canada output rose by 3.7%, while Mexico production rose by 0.9%.
Year on year, January chemical production in North America rose by 2.6%.
Latin America chemical production fell by 0.9% in January from December, as output declined in Brazil, Chile and other countries. Year on year, January production rose by 0.1%.
January chemical production in Europe rose by 0.7% month on month and by 4.5% year on year.
Output in the Asia-Pacific region fell by 0.2% month on month and rose by 3.4% year on year.
On a three-month-moving-average (3MMA) basis, the Global CPRI in January was up by 3.4% year on year, the ACC said.
The Global CPRI measures the production volume of the business of chemistry for 33 key nations, sub-regions and regions, all aggregated to the world total. The index is comparable to the Federal Reserve Board production indices.
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