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:

  • DuPont Challenge Encourages Entries For 2015 Competition

    The DuPont Challenge encourages students to develop a better understanding and passion for STEM by researching and writing an informative essay offering solutions to today’s challenges regarding food, energy, protection and innovation, or a story on a science discovery.

  • SOCMA Hosts 93rd Annual Dinner And Awards Showcase

    The Society of Chemical Manufacturers and Affiliates (SOCMA) is returning to the New York Marriott Marquis Times Square on December 8, 2014, for its 93rd Annual Dinner honoring Performance Improvement Award winners and featuring a Leadership and Business Development Speaker Showcase.

  • Summit Features Bio-Based Tech Startups

    The 6th Next Generation Bio-Based & Sustainable Chemicals Summit, February 3 – February 5, 2015, in New Orleans, LA brings together bio-based tech startups, specialty chemical manufacturers, chemical majors, feedstock providers, financiers and strategic venture capitalists to explore bio-based chemicals.

  • Flint Hills Resources Will Cease Marysville Operations

    Flint Hills Resources plans to close its Marysville, Michigan polypropylene facility.

  • EFCE Seeks Award Nominees

    Award honors outstanding thesis in thermodynamics or transport properties

  • British Safety Regulator Gets New Head

    Executive has worked in both the public and private sectors

  • AkzoNobel Partnership Investigates Waste As Feedstock

    AkzoNobel is part of a major Dutch partnership working with Canada's Enerkem to explore the use of waste streams as a feedstock for chemical production and the development of waste-to-chemicals facilities.

  • Scientist And CorningWare Inventor Stookey Dies

    S. Donald Stookey, credited with inventing CorningWare, died on Tuesday, November 4 at the age of 99.

  • DOE Funds New Gasification Research

    The Department of Energy announced new investments in gasification research.

  • SOCMA Awards Honor EHS&S Improvement

    More than 28 member facilities will receive 2014 Performance Improvement Awards for their outstanding commitment to continuous improvement in environmental, health, safety and security (EHS&S) practices at the Society of Chemical Manufacturers and Affiliates (SOCMA) 93rd Annual Dinner on December 8 in New York.

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