Data collected and tabulated by the American Chemistry Council (ACC) shows that growth in global chemical production started 2018 on a neutral note. ACC’s Global Chemical Production Regional Index (Global CPRI) shows that global chemicals production was stable in January, following a 0.3% gain in December and a 0.6% gain in November. During January, production gains were mixed with growth in Europe, the Former Soviet Union (FSU) and the Africa-Middle East region offsetting declines elsewhere. The Global CPRI was up 3.4% year-over-year (Y/Y) on a 3-month moving average (3MMA) basis and stood at 116.4% of its average 2012 levels in November.
During January, capacity utilization in the global chemical industry slipped 0.2 percentage points to 86.2%. This is up from 85.2% last January but is below the long-term (1987-2017) average of 86.5%.
ACC’s Global CPRI measures the production volume of the chemical industry for 32 key nations, sub-regions and regions, all aggregated to the world total. The index is reportedly 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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