According to a report published by the American Chemistry Council (ACC) the chemical production for U.S. was higher across regions in July 2015. The council further reported that the U.S. Chemical Production Regional Index (CPRI) was the industry was up by 0.3% for July after a 0.2% hike in the previous month in the same year. CPRI for the U.S. is measured by using a three-month average. This measuring tool has been devised by Moore Economics to track the overall chemical production of seven regions across the nation. This index can be compared to industrial production index for chemicals set by the Federal Reserve.
ACC attributed this growth to the manufacturing sector in the U.S., which is the biggest consumer of chemicals. The report suggests that the manufacturing activity was up by 0.2% in July. This manufacturing sector using chemical products for about 96% of its goods. Despite the good news of manufacturing sector picking up momentum, the strong dollar continues to pressurize it by making the finished good very expensive for the other nations to buy.
The sudden spur in the manufacturing activities were seen in chemical using segments such as construction supplies, computers, plastic products, motor vehicles, and furniture.
All the seven regions in the U.S. showed a positive growth rate in chemical production. For instance, Gulf Coast stood at a gain of 0.6%, West Coast and Midwest and Mid-Atlantic at 0.3%, Ohio Valley and Northeast at 0.2%, and Southeast at 0.4%. The total chemical production for the month of July 2015 was up by 3.7% years on year.