US CPRI for manufactured fibres rises on 3MMA basis in August 2022

26 Sep '22

2 min read

Pic: Shutterstock/ Sadik Gulec

The US Chemical Production Regional Index (US CPRI) rose for manufactured fibres, consumer products, synthetic dyes, and pigments in August 2022 on a three-month moving average (3MMA) basis. However, overall chemical production remained flat in August 2022 following a 0.2 per cent gain in July and a 0.1 per cent decline in June, according to the American Chemistry Council (ACC).

As nearly all manufactured goods are produced using chemistry in some form, manufacturing activity is an important indicator for chemical demand. Manufacturing output edged higher by 0.1 per cent in August (3MMA).

The 3MMA trend in manufacturing production was mixed, with gains in the output of apparel, rubber products, and plastic products among others, according to a press release by the American Chemistry Council.

Compared with August 2021, US chemical production was ahead by 1.3 per cent, a faster rate of growth than last month. Chemical production was higher than a year ago in all regions except the Gulf Coast, which was 1.5 per cent lower.

The US CPRI was developed to track chemical production activity in seven regions of the United States. The US CPRI is based on information from the Federal Reserve, and as such, includes monthly revisions as published by the Federal Reserve. The US CPRI includes the most recent Federal Reserve benchmark revision released on August 28, 2022. To smooth month-to-month fluctuations, the US CPRI is measured using a three-month moving average. The reading in August reflects production activity during June, July, and August.

Fibre2Fashion News Desk (NB)

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