In a recent data release, the American Chemistry Council (ACC; Washington, D.C.; www.americanchemistry.com) said global chemical production rose in April, while U.S. chemical production fell.
ACC said, “Following a 0.7% gain in March, ACC’s Global Chemical Production Regional Index (Global CPRI) increased by 0.7% in April. The Asia-Pacific region led the gain as trade actions prompted front loading of manufactured goods from the region. European production also benefited from front loading, but the momentum there slowed. In South America, production continued to edge down this month; however, year-over-year growth remained positive as economic conditions continued to improve in the region. All segments saw improvement, and year-over-year production rose by 5.7%.”
“The U.S. CPRI edged down by 0.1% in April. This index measures chemical production trends based on a three-month moving average to smooth out month-to-month volatility. Production declined in most regions of the country except Gulf Coast. Overall, the U.S. CPRI is 5.5% higher than it was a year ago,” ACC said.
Also, ACC added that “oil prices trended higher as the U.S. banned Chevron from exporting Venezuelan oil and Canadian wildfires have forced the evacuation of staff in some areas in the northern part of the province.”
Learn more.