Chemical output slips in September

Total U.S. production declined slightly in September from the previous month, but it was up significantly from September 2005, when much of the industry was hit by Hurricane Katrina. Data from the Federal Reserve Board show the September seasonally adjusted chemical production index at 104.8 (2002 = 100), off 0.7% from August but up 7.5% from the comparable month last year. Meanwhile, basic chemical production slipped 0.3% from August to an index of 98.3, but it jumped 28.8% from the hurricane-ravaged September 2005. The government's estimate of capacity utilization for all chemicals in September was 76.1%, down from 76.7% in August but up from 71.9% 12 months earlier.