WASHINGTON, July 21, 2022 (PRNewswire) — The U.S. Chemical Production Regional Index (U.S. CPRI) eased by 0.1% in June following gains of 0.5% in May and 1.0% in April, according to the American Chemistry Council (ACC). Chemical output was mixed across regions. The U.S. CPRI is measured as a three-month moving average (3MMA).
On a 3MMA basis, chemical production within segments was mixed in June. There were gains in the production of synthetic rubber, industrial gases, coatings, manufactured fibers, synthetic dyes and pigments, adhesives, other organic chemicals, crop protection chemicals, other specialty chemicals, and fertilizers. These gains were offset by lower production of plastic resins, organic chemicals, and consumer products.
As nearly all manufactured goods are produced using chemistry in some form, manufacturing activity is an important indicator for chemical demand. Manufacturing output eased by 0.1% in June (3MMA). The 3MMA trend in manufacturing production was mixed, with gains in the output of motor vehicles, aerospace, iron and steel, oil and gas extraction, and rubber products.
Compared with June 2021, U.S. chemical production was ahead by 2.5%, a slower rate of growth than last month. Chemical production was higher than a year ago in all regions except the Gulf Coast, which was 0.5% lower.
The U.S. CPRI was developed to track chemical production activity in seven regions of the United States. The U.S. CPRI is based on information from the Federal Reserve, and as such, includes monthly revisions as published by the Federal Reserve. The U.S. CPRI includes the most recent Federal Reserve benchmark revision released on June 28, 2022. To smooth month-to-month fluctuations, the U.S. CPRI is measured using a three-month moving average. The reading in June reflects production activity during April, May, and June.
American Chemistry Council
The American Chemistry Council (ACC) represents the leading companies engaged in the multibillion-dollar business of chemistry. ACC members apply the science of chemistry to make innovative products, technologies and services that make people's lives better, healthier and safer. ACC is committed to improved environmental, health, safety and security performance through Responsible Care®; common sense advocacy addressing major public policy issues; and health and environmental research and product testing. ACC members and chemistry companies are among the largest investors in research and development, and are advancing products, processes and technologies to address climate change, enhance air and water quality, and progress toward a more sustainable, circular economy.
