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ACC: Global Production Indicating 'V-Shaped' Recovery

3:28 PM MST | February 23, 2010 | Vincent Valk

Global chemical industry production rose for the eleventh consecutive month in January, according to ACC's monthly report on production. The rise totaled 8.2% year-on-year on a three-month, moving average (3MMA) basis, and 0.5% sequentially. The production increases "suggest a sharp V-shaped recovery has emerged," ACC says. North American production rose 7% year-on-year on a 3MMA basis in January.  The rise was "driven largely by the United States," which posted a 7.6% production gain, ACC says. Excluding pharmaceuticals, the U.S...

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