The Global Chemical Production Regional Index (Global CPRI) fell 0.3% in October, a departure from the average 0.5% monthly gain during the first quarter, according to the American Chemical Council (ACC; Washington, D.C.; www.americanchemistry.com). The figures appear in ACC’s most recent Weekly Chemistry and Economic Report.
The Global CPRI was up only 3.2% year-over-year on a three-month moving average basis, the report says. The year-over-year level has been declining for the last four months. “Most leading indicators of global industrial activity signal further softness,” ACC comments.
In the U.S., the chemical production regional index rose 0.2% in October. “Chemical production [in the U.S.] rose modestly in all regions, except the Mid-Atlantic and West Coast regions, where production was flat,” the report says.
The ACC report routinely discusses other recently released economic data. According to information from the U.S. Bureau of Labor Statistics, the overall employment rose by 120,000 during November, and job growth in September and October were upwardly revised by more than 70,000. However, in the business of chemistry, overall employment fell by 1,400 jobs, to 781,900.
Summarizing the latest economic reports, ACC said the most recent data are largely positive. Consumer incomes rose, and led to gains in spending, ACC said, most notably in light vehicles. “While the prospects for the U.S. economy appear to be improving, real risks to the global economy remain,” the ACC report points out.
The S&P 500 chemicals index was down 2.9% from the beginning of the year, while the overall S&P 500 index is down by 0.9% over the same timeframe.
No PDF is available for this article.