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ACC CAB posts gain in September

October 01/2020

MOSCOW (MRC) -- The American Chemistry Council's (ACC) chemical activity barometer (CAB), a leading economic indicator and index of industry activity, posted a sequential gain in September of 2.7% on a three-month moving average (3MMA) basis, said Chemweek.

It was the fifth consecutive month of gains for the index. On a year-on-year (YOY) basis, the CAB was down 4.3%. УWith five consecutive months of gains, the September CAB reading is consistent with recovery in the U.S. economy,Ф said Kevin Swift, chief economist at ACC.

Production-related indicators were mixed in September, with gains in construction-related resins, pigments, and chemistry for light-vehicle applications, but more modest activity in resins for packaging, consumer, and institutional applications. Chemical equity prices were flat, while product and input prices were stable, and inventory and supply chain indicators were positive, ACC says.

As MRC informed earlier, Russia's output of products from polymers grew in August 2020 by 4.1% year on year. However, this figure increased by 1.9% year on year in the first eight months of 2020. According to the Russian Federal State Statistics Service, August production of unreinforced and non-combined films rose to 126,300 tonnes from 118,200 tonnes a month earlier. Output of films products grew in January-August 2020 by 8.3% year on year to 863,200 tonnes. Last month's production of non-porous polymer boards, sheets and films exceeded 38,700 tonnes versus 36,400 tonnes in July. Thus, overall output of these products reached 271,900 tonnes over the stated period, up by 3.5% year on year.
Author:Anna Larionova
Tags:North America, CIS, petroleum products, neftegaz, petrochemistry.
Category:General News
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