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May 6, 2013

Global CPRI grows in March, but at a subdued pace, ACC says

Scott Jenkins

The Global Chemical Production Regional Index (Global CPRI) rose 0.1% in March, a subdued pace compared to January and February, according to the American Chemistry Council (ACC; Washington, D.C.; The information on the Global CPRI was part of ACC’s latest Weekly Chemistry and Economic Report.
Of the six major regions, three saw chemical production rise, while others saw a decline. Production in North America was up, as was Asia and Africa and the Middle East. In Latin America and Western Europe, production fell. Central and Eastern Europe was up slightly for March, but was down compared to last year at this time.
Other information in the latest ACC report included the equity performance of chemical companies. The S&P Index for chemical companies rose by 3.7% in April, outpacing the wider S&P 500 Index, which rose 1.8% in the same month. Since the beginning of the year, the S&P chemicals index was up 9.5% and the S&P 500 index was up 12.0%.
The chemical production numbers are consistent with the Institute of Supply Management (ISM) report, which indicates that the chemical industry production expanded in April.
The week’s economic report this week were mixed, the ACC said, with some retreats in light vehicle sales and construction spending offsetting gains in consumer incomes and spending.

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