Chemical Output Up And Down In July

Total U.S. chemical production rose in July from the previous month but fell from July 2006, while output of basic chemicals went in the opposite directions, according to data from the Federal Reserve Board. The seasonally adjusted production index for all chemicals in July increased 0.5% to 111.0 (2002 = 100) while falling 0.7% from the comparable month one year earlier. Meanwhile, the basic chemical production index fell 0.4% from June to 118.0 but increased 2.3% over last year's figure to 110.0. The government's estimate of capacity utilization for all chemical production rose to 78.2% in July from 77.8% in the prior month. In July one year earlier, chemical capacity use was 79.4%.