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U.S. Chemical Production Gained In April
WASHINGTON, May 21, 2019 /PRNewswire via COMTEX/ -- Copyright (C) 2019 PR Newswire. All rights reserved

According to the American Chemistry Council (ACC), the U.S. Chemical Production Regional Index (U.S. CPRI) rose by 0.3 percent in April, following a 0.3 percent decline in March and a 0.2 percent decline in February. During April, chemical output was higher across all regions.

Chemical production was mixed over the three-month period. There were gains in the production three-month moving average (3MMA) output trend in organic chemicals, plastic resins, adhesives, coatings, other specialty chemicals, industrial gases, synthetic dyes and pigments, crop protection chemicals, and consumer products. These gains were offset by declines in the output of synthetic rubber, fertilizers, manufactured fibers, and other inorganic chemicals.

Nearly all manufactured goods are produced using chemistry in some form. Thus, manufacturing activity is an important indicator for chemical production. On a 3MMA basis, manufacturing activity edged lower for a third straight month, by 0.3 percent in April. Output expanded in several chemistry-intensive manufacturing industries, including aerospace, semiconductors, oil and gas extraction, rubber products and tires.

Compared with April 2018, U.S. chemical production was up by 2.8 percent on a year-over-year basis, a weaker comparison than in March. Chemical production was higher than a year ago in all regions, with the largest gains in the Northeast, Mid-Atlantic, and West Coast regions.

The chemistry industry is one of the largest industries in the United States, a $526 billion enterprise. The manufacturing sector is the largest consumer of chemical products, and 96 percent of manufactured goods are touched by chemistry. The U.S. CPRI was developed to track chemical production activity in seven regions of the United States. The U.S. CPRI is based on information from the Federal Reserve, and as such, includes monthly revisions as published by the Federal Reserve. To smooth month-to-month fluctuations, the U.S. CPRI is measured using a three-month moving average. Thus, the reading in April reflects production activity during February, March, and April. American Chemistry Council (ACC) represents the leading companies engaged in the business of chemistry. ACC members apply the science of chemistry to make innovative products and services that make people's lives better, healthier and safer. ACC is committed to improved environmental, health and safety performance through Responsible Care, common sense advocacy designed to address major public policy issues, and health and environmental research and product testing. The business of chemistry is a $526 billion enterprise and a key element of the nation's economy. It is one of the nation's largest exporters, representing ten cents out of every dollar in U.S. exports. Chemistry companies are among the largest investors in research and development. Safety and security have always been primary concerns of ACC members, and they have intensified their efforts, working closely with government agencies to improve security and to defend against any threat to the nation's critical infrastructure.

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SOURCE American Chemistry Council

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