Soon economists will be watching the CPRI and ChemFactor -- two new indicators that were recently unveiled by the American Chemistry Council -- as a way to provide greater visibility into chemical production levels.
CRPI, the Chemical Production Regional Index, is a monthly indicator measuring production levels in seven U.S. regions -- Northeast, Mid-Atlantic, Southeast, Ohio Valley, Midwest, Gulf Coast and West Coast.
ChemFactor is an economic "touch" indicator measuring the chemistry and chemistry-derived percentages of certain goods and items. For instance, with 100% of paint production based on chemistry and chemistry-derived products, paint has a ChemFactor of 100. The ChemFactor scores also indicate those industries that are the largest purchasers of chemistry products. Examples of these scores are prescription drugs (100), soap (100), tires (62), pantyhose (55) and paper (26).
The CPRI and ChemFactor were designed and developed by economist, Martha Moore. "For too long, economists and market watchers lacked the necessary tools to chart and measure regional chemical industry production," says Moore, president of Moore Economics.
"Chemistry is an essential American industry and a major contributor to the economy, accounting for ten cents out of every dollar in U.S. exports," comments Jack Gerard, CEO, American Chemistry Council.
Interested in information related to this topic? Subscribe to our weekly Value-chain eNewsletter.