The Global Chemical Production Regional Index (global CPRI) rose 0.3% on a three-month-moving-average (3MMA) basis in November, according to the latest Weekly Chemistry and Economic Report from the American Chemistry Council (ACC; Washington, D.C.; www.americanchemistry.com). “Gains in production were centered in North America (aided by the shale gas advantage), with nominal gains in Central & Eastern Europe, Africa & Middle East and, to a lesser extent, Asia-Pacific,” the ACC report says. Chemical industry production contracted elsewhere.
The gain in global CPRI indicates that production during the 4th quarter continued at a modest pace, ACC says.
Examining the economic data from the final weeks of 2014, ACC said most were positive. For example, gross domestic product (GDP) in the U.S. expanded at a rate of 5.0% during the third quarter; the strongest performance in 11 years, the ACC report said.
Other economic data indicate stronger job growth and personal income gains in the U.S., along with lower gasoline prices. Abroad, purchasing manager’s index data suggest weakness in the Chinese manufacturing sector.