US chemical production increases in July
Production increased 3.7% year on year, rising to its highest levels in three months
Chemical production in the US increased has increased and remains ahead of last year's pace, according to the latest report from the American Chemistry Council.
US chemical production showed a 3% increase in July, exceeding its 2% growth the month before and flat growth in May.
Chemical products also rose 3.7% year on year, although that rate continued to decline since April's 4.5% gap.
Production of organic and inorganic chemicals, synthetic rubber, plastic resins, agricultural chemicals and pharmaceuticals increased, while industrial gases, consumer products, coatings and manufactured fibers declined.
Out of the seven regions tracked by the report, the Gulf Coast and Southeast regions saw the largest gains compared to June.
Specialty chemicals rose by 0.8% in July, marking its first increase in six months of declines. Meanwhile, manufacturing activity, which is considered a strong indicator of chemical demand, with several chemical-intensive industries growing in the three months up to July.
These included motor vehicles, construction supplies, computers, plastic products and furniture.