Chemical prices, excluding pharmaceuticals, fell 0.9% in December, while industrial production rose 0.4%, according to data compiled from various sources and discussed in the latest Weekly Chemistry and Economic Report from the American Chemistry Council (ACC; Washington, D.C.; www.americanchemistry.com).
U.S. Bureau of Labor Statistics data were cited to show that chemical prices were down in December for several sectors, including basic chemicals (down 0.9%), plastic resins (down 4.0%), manmade fibers (down 1.3%), petrochemicals and derivatives (down 0.5%) and synthetic rubber (down 4.4%). Moving in the other direction, prices for inorganic chemicals were up 1.6% in December, and pharmaceutical prices rose 0.9%.
According to information from the U.S. Federal Reserve analyzed by ACC, industrial production increased by 0.4% in December, following a 0.2% decline in the previous month. Wood products, primary metals, machinery, electronic products, textiles, chemicals, petroleum and coal products were among the areas noting monthly gains in production, while paper, apparel and furniture were some of those experiencing declines. Compared to a year ago, overall industrial production is up 2.9%, the ACC report says.
Most economic reports this week were positive in the U.S., the ACC assessment remarks, but weakness was felt in many areas beyond the U.S. Industrial activity in China, however, continued to expand at a good pace, the ACC report says.
No PDF is available for this article.