Chemical Output Rises in June

Total U.S. chemical production increased in June from the previous month but was down from June last year, according to seasonally adjusted data from the Federal Reserve Board. The figures show chemical output increasing 0.5% to an index of 110.0 (2002 = 100) from May. The index was off 1.0% from June 2006, however. Basic chemicals performed better, with the production index rising to 118.0, up 0.8% from the prior month and 3.5% ahead of the comparable month last year. The government's estimate of capacity utilization for all chemicals was 77.5%, up from 77.2% the month before, but below the 79.0% seen in June a year earlier.