United States. According to the American Chemistry Council (ACC), the regional chemical production index in that country fell to 0.3% in August, following a 0.2% gain in July.
The ACC, however, indicated that year-over-year production remains positive. On a three-month sliding average, output from the country's overall manufacturing sector rose 0.2% in August, after a 0.1% gain in July. High activity in construction and vehicle sales, however, in addition to the recovery in Europe and faster growth in China, will increase demand for manufactured goods, including chemicals.
Compared to August 2012, total chemical production in all regions accelerated with a 1.2% year-over-year gain, following a 1.4% increase in July. All regions were ahead compared to the previous year.
The chemical industry is one of the largest industries in the United States, a $770 billion sector. The manufacturing sector is the largest consumer of chemicals, and 96% of manufactured products are touched by chemistry.
