Chemical Industry Ends Week On A Positive Note

"The Weekly Chemistry and Economic Trends" report from the American Chemistry Council Economics & Statistics Department notes a largely positive economic outlook for the week ending April 2, with negative news confined to stagnant consumer incomes.

Factors that ACC looks to for forecasting include The Institute for Supply Management (ISM) Report on Business, which was strong, signaling a buoyant manufacturing sector. It is consistent with a manufacturing boom and with 1st quarter economic growth of around 5%. The Chicago PMI (Purchasing Managers Index, which is compiled by ISM) confirmed continued recovery in that region. Production of paper also rose and factory orders strengthened. Consumer spending is expanding and this continued into March as evidenced by the light vehicle report.

Overseas, the JP Morgan PMI and recent industrial production releases signal industrial recovery, especially in East Asia. As evidenced by rising oil and other commodity prices, the economic forces at play suggest boom conditions in the next few quarters.
The ACC notes the chemical industry was one reporting growth in the ISM report. This was confirmed by the number of hours worked and by chemical and polymer railcar loadings. The latter are signaling a strong recovery. More individual product reports are showing stronger positive year earlier comparisons.
To read the entire report, download this PDF.

More News:

  • IChemE Introduces New Academic Journal

    Sustainable Production and Consumption (SPC), a new academic journal from the Institution of Chemical Engineers (IChemE), in partnership with Elsevier, will launch in 2015 and focus on the importance of sustainability in sectors as diverse as retail, tourism, transport, health, food, energy, construction and the chemical and process industries.

  • Eastman Completes Taminco Acquisition

    Eastman Chemical Company completed its acquisition of specialty chemical producer Taminco Corporation.

  • Vertellus Acquires Dow SBH Business

    Vertellus, a producer of specialty chemicals for the life sciences sector and other industrial applications, signed a definitive agreement to acquire the sodium borohydride (SBH) business, including associated assets, from The Dow Chemical Company.

  • Energy Dept. Awards Pitt Grant To Improve Power Plant Safety

    The U.S. Department of Energy has tapped the University of Pittsburgh’s Swanson School of Engineering to help improve nuclear power plant safety.

  • NABE Forecasts Accelerated Economic Growth In Coming Year

    Economic growth is expected to accelerate in 2015, according to the December 2014 Outlook Survey from the National Association for Business Economics (NABE).

  • CHF Exhibit Features 15th Century Alchemical Manuscripts And Art

    Books of Secrets: Writing and Reading Alchemy, a new exhibit of alchemical art and documents, opened December 5 in the Museum at the Chemical Heritage Foundation (CHF).

  • AIChE Honors Stuart L. Cooper With Founders Award

    The American Institute of Chemical Engineers (AIChE) presented the Founders Award for Outstanding Contributions to the Field of Chemical Engineering, to Stuart L. Cooper, professor and chair of the Department of Chemical and Biomolecular Engineering at The Ohio State University.

  • Economic Reports Show Positive Week

    Economic reports were positive this week for the most part, according to Weekly Chemistry and Economic Trends report from the American Chemistry Council.

  • ACS Names New Executive Director

    Retiring DuPont executive will take helm

  • AkzoNobel Investigates Raw Material Production From Sugar Beet

    AkzoNobel joined forces with SuikerUnie, Rabobank, Deloitte, Investment and Development Agency for the Northern Netherlands (NOM), Groningen Seaports, and the Province of Groningen, to investigate the possibility of producing chemicals from beet-derived sugar feedstock

All news »

What are your comments?

Join the discussion today. Login Here.


No one has commented on this page yet.

RSS feed for comments on this page | RSS feed for all comments