U.S. Chemical Production on an Upswing

U.S. chemical production continues to leap in the second quarter with May seeing a rise in production on gains in output across most chemical producing regions, according to the latest monthly report from the American Chemistry Council ("ACC"). The Washington, DC-based chemical industry trade group said that the U.S. Chemical Production Regional Index ("CPRI") went up 0.4% in May on a monthly comparison basis, following a 0.2% rise a month ago. The U.S. CPRI, which is measured using a three-month moving average, was created to track chemical production in seven regions nationwide.
May Data Shows Broad-based Regional Gains The May readings showed an uptick in chemical production on a monthly comparison basis across all regions barring the Ohio Valley. The Gulf Coast region – the epicenter of the U.S. specialty chemicals and petrochemicals industry – saw the biggest gain with output moving up 0.5%. Production from Northeast and Midwest rose 0.3% and 0.2%, respectively, in the reported month. Output rose 0.1% in Mid-Atlantic, West Coast and Southeast. Production was flat in the Ohio Valley.