US chemical activity by month edges down: ACC

According to the American Chemistry Council (ACC), the US Chemical Production Regional Index (US CPRI) slipped by 0.2% in May, following flat growth in April and a 0.1% gain in March.

Over the same period, chemical production by segment was mixed. 

There were gains in the output of pesticides, chlor-alkali, other specialties, and synthetic rubber. These gains were offset, however, by declines in the production of plastic resins, organic chemicals, adhesives, fertilizers, acids, phosphates, sulfates, manufactured fibers, and pharmaceuticals. Coatings production was flat.

Nearly all manufactured goods are produced using chemistry in some form or another. Thus, manufacturing activity is an important indicator for chemical production. 

On a three-month-moving average basis, manufacturing activity was flat in May, following declines in March and April.  Production expanded, however, in several chemistry-intensive manufacturing industries, including appliances, motor vehicles, aerospace, rubber products, printing, and textile products.

Compared to May 2014, US chemical production was ahead by 4.0% on a year-over-year basis, a slowing comparison. Chemical production remained ahead of year ago levels in all regions.