World production totals for the chemical industry rose in July, with the Global Chemical Production Regional Index (Global CPRI) up 4.4% on the basis of a year-over-year (Y/Y), three-month moving average. However, the production pace has slowed, according the latest Weekly Chemistry and Economic Report from the American Chemistry Council (ACC; Washington, D.C.; www.americanchemistry.com).
“Gains in the global chemical industry production have slowed on a Y/Y basis,” ACC says. “There has been a marked deceleration, and in some countries and regions, a downturn.” In addition, the ACC report says that most leading indicators of global industrial activity signal further softness.
Production in North America, was up 2.4% Y/Y, while Latin American chemical output fell by 0.4%. Chemical production in Western Europe rose by 1.1%, but the pace there has “moderated sharply since mid-2010,” the report notes. Compared to the previous month, however, the U.S. Chemical Production Regional Index fell 0.3% in July, following a decline by the same amount in June.
In Central and Eastern Europe, Y/Y chemical production was up 3.8%, and Africa and Middle East was off 2.4%, although the trend there has been positive since April 2009.
Led by China and the Philippines, Y/Y chemical production in the Asia-Pacific region showed strong gains, but with other countries of that region showing modest gains or weakness, ACC said. Japan continued to negatively affect the region’s output, although recovery from the earthquake and tsunami disasters is underway, the report adds.