Global chem­i­cals pro­duc­tion de­clines in the first quar­ter

Chemical Industry Digest - - News & Views -

The

Amer­i­can Chem­istry Coun­cil’s Global Chem­i­cal Pro­duc­tion Re­gional In­dex (Global CPRI) shows that global chem­i­cals pro­duc­tion fell 0.3% in March, fol­low­ing a 1.0% drop in Fe­bru­ary, and a 0.6% de­cline in Jan­uary. The last gain was 0.3% in De­cem­ber. Dur­ing March, pro­duc­tion gains were in North Amer­ica, the For­mer So­viet Union, and Africa & Mid­dle East with weak­ness else­where. The Global CPRI was up 2.0% year-overyear (Y/Y) on a 3MMA ba­sis and stood at 113.9% of its av­er­age 2012 lev­els in Fe­bru­ary.

Dur­ing March, ca­pac­ity uti­liza­tion in the global chem­i­cal in­dus­try eased 0.4% points to 84.1%. This is down from 85.6% last March and be­low the long-term (1987-2017) av­er­age of 86.5%.

ACC’s Global CPRI mea­sures the pro­duc­tion vol­ume of the chem­i­cal in­dus­try for 33 key na­tions, sub-re­gions, and re­gions, all ag­gre­gated to the world to­tal. The in­dex is com­pa­ra­ble to the Fed­eral Re­serve Board (FRB) pro­duc­tion in­dices and fea­tures a sim­i­lar base year where 2012=100. This in­dex is de­vel­oped from govern­ment in­dus­trial pro­duc­tion in­dices for chem­i­cals from over 65 na­tions ac­count­ing for about 98% of the to­tal global chem­i­cal in­dus­try.

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