The US Bureau of Economic Analysis (BEA) revealed today that real GDP increased at an annual rate of 0.5 percent in the first quarter of 2016, according to the “advance” estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 1.4 percent.
Incorporating the gases industry, the American Chemistry Council’s (ACC) Global Chemical Production Regional Index (Global CPRI) shows that the first quarter ended on a soft note, with the headline index essentially flat on a three-month moving average (3MMA) basis during March. This follows flat activity in February, a 0.4 percent gain in January and a strong fourth quarter.
During March, chemical production rose in North America, Western Europe, Central and Eastern Europe, and Africa and the Middle East, while activity fell in Latin America and Asia-Pacific. The Global CPRI was up 2.6 percent year-over-year (Y/Y) on a 3MMA basis and stood at 108.5% of its average 2012 levels in March.
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