The American Chemistry Council’s Global Chemical Production Regional Index (Global CPRI) shows that global chemicals production rose 0.5% in May after revised flat performance in April, as measured on a three-month moving average (3MMA) basis. During May, production increased in North America, Western Europe, Central and Eastern Europe, Africa and the Middle East, and the Asia-Pacific region but decreased again in Latin America, according to ACC. The Global CPRI was up 1.9% year-over-year (Y/Y) on a 3MMA basis and stood at 109.9% of its average 2012 levels in May.
During May, capacity utilization in the global business of chemistry rose 0.3 percentage points to 80.0%. This is off from 80.6% last May and is below the long-term (1987-2016) average of 88.8%.
Results were generally positive on a product basis during May, according to ACC, with gains in agricultural chemicals, manufactured rubber, coatings and other specialty chemicals. Considering year-over-year comparisons, growth was strongest in coatings followed by plastic resins and inorganic chemicals.
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