Chemical output gains again

U .S. chemical production continued its recovery in December, according to seasonally adjusted data from the Federal Reserve Board. The production index for all chemicals increased 0.7% from November to 102.2 (2002 = 100). The latest index was still down 2.2% from December 2004. Meanwhile, the production index for basic chemicals rose 5.0% from the previous month to 97.3, but was down 8.5% from December a year earlier. The government's estimate of capacity utilization for all chemicals in December was 75.1%, up from 74.4% in November but below the 77.4% seen in December 2004.