Chemical output is flat in July

Total U.S. chemical production was unchanged in July from the previous month but was still up from year-earlier levels, according to seasonally adjusted data from the Federal Reserve Board. The government data show a July production index for all chemicals of 105.0 (2002 = 100), the same as it was in June but 1.3% ahead of July 2005. Meanwhile, the index for basic chemicals declined, falling 0.7% from the prior month and 3.0% from the comparable month last year to 97.6. Capacity utilization for all chemicals in July declined slightly to 76.5% from 76.6% in June, but it was unchanged from the 76.5% seen in the comparable month last year.