ACC - American Chemistry Council
03/27/2026 | Press release | Distributed by Public on 03/27/2026 06:55
Weekly Chemistry and Economic Trends (03-27-26)
0.3% Construction Spending
46.1% Global Semiconductor Sales (Y/Y)
0.2% Global CPRI
Construction spending dipped 0.3% in January after gaining 0.8% in December. A 0.6% drop in private spending more than offset an equal percentage rise in the public sector. Private residential construction decreased in January, as did private nonresidential construction. Compared to a year ago, total construction spending was up 1.0% Y/Y.
Import prices (which exclude tariffs) rose 1.3% in February, the largest monthly increase since March 2022. Export prices leaped 1.5%, the largest advance since May 2022. Compared to last year, import prices increased 1.3% while export prices grew 3.5%.
Global semiconductor sales continued to surge ahead in January, up by 3.7% to $82.5 billion. All major regions except Japan gained, with the largest percentage gains in China and Europe. Compared to a year ago, global semiconductor sales were up 46.1%. More than 500 different highly pure process chemicals are used to produce semiconductors.
Expectations for the U.S. economy weakened in March, according to ACC's Survey of Economic Forecasters.
• U.S. GDP is expected to grow by 2.3% in 2026, slightly lower than last month's survey. In 2027, growth in GDP is expected to moderate to a 2.1% pace.
• Growth in consumer spending is expected to slow to a 2.1% pace in 2026 (lower than last month) before easing further to a 2.0% gain in 2027.
• Following better-than-expected growth in business investment in 2025 (due in large part to AI and power infrastructure), business investment is expected to ease only slightly to a 3.8% pace in 2026, better than in February's survey. Investment growth is expected to be around 3.4% in 2027.
• Following several years of weak growth, ACC expects industrial production grow by 1.1% in 2026 and 1.3% in 2027, both lower than in February's survey.
• Despite ongoing struggles with affordability, vehicle sales rose to a 16.2 million pace in 2025 (the highest since 2019). Sales are expected to soften to a 15.7 million pace in 2026 (slightly lower than last month) before returning to a 16.2 million pace in 2027.
• The housing sector also struggles with affordability. Housing starts are expected to ease to a 1.35 million level in 2026 before a modest improvement to a 1.39 million level in 2027, a little lower than last month's survey.
• The unemployment rate is expected to continue to rise, averaging 4.4% in 2026 and remain steady at 4.4% rate in 2027, a bit higher than last month's survey.
• Growth in consumer prices is expected to continue to ease, averaging 2.7% in 2026 and 2.4% in 2027 (slightly higher than last month).
• The 10-year Treasury yield is expected to move lower in 2026 and remain essentially steady in 2027.
• The U.S. dollar is expected to strengthen against the euro in 2026 before retreating 2027.
Global Highlights
• Compared to the December outlook, global GDP growth expectations rose to 2.9% for 2026. In 2027, global GDP is expected to accelerate to a 3.0% pace, slightly better than expected at the end of last year.
• Global inflation pressures have eased since 2022 but remain elevated. Global inflation is expected to accelerate to a 3.9% pace in 2026 (higher than expected in December) before slowing to a 3.3% pace in 2027 (slightly lower than in December's survey).
• Global manufacturing rebounded in 2025, and output is expected to continue to expand. Global industrial production is expected to grow 2.8% in 2026 and 3.0% in 2027. Both were upwardly revised.
• Following stronger-than-expected growth in 2025, growth in world trade volumes is expected to moderate over the next few years. World trade volumes are expected to grow by only 2.4% in 2026 and 2.8% in 2027, both higher than in the December survey.
According to data released by the Association of American Railroads, chemical railcar loadings rose to 36,302 for the week ending March 21st. Loadings were up 2.1% Y/Y (13-week MA) and up 3.6% YTD.
Chemical import prices (which exclude tariffs) rose for a second consecutive month in February, up by 0.6%. Prices for chemical exports also rose, up 1.1%. Compared to a year ago, chemical import prices remained off by 1.3% Y/Y while export prices were off 0.3% Y/Y.
Chemical construction spending totaled $45.6 billion in January (seasonally adjusted annual rate), growing 0.8% over the month after shrinking 0.5% in December. Compared to a year ago, chemical construction spending was up 11.5% Y/Y. Within other construction spending categories, manufacturing shrank 15.0% Y/Y, data centers leaped 31.3% Y/Y, and plastic/rubber was up 13.6% Y/Y. Chemical manufacturing construction represented 23.4% of all manufacturing construction spending in January, up from 17.8% a year ago and the highest share since November 2022.
Following a 0.3% increase in January, global chemical production rose 0.2% month-over-month in February. Regional performance was mixed: Middle East & Africa, Asia-Pacific, and North America posted gains, South America and Europe declined, and the FSU was flat. Taiwan recorded the largest country-level increase, with chemical production up 4.4% month-over-month, followed by South Korea, up 3.8%. Several product segments led the rise - coatings, other specialties, inorganics, synthetic materials, basic chemicals and specialty chemicals each increased 0.3%. On a year-over-year basis, global chemical production was up 3.1% in February 2026.
Energy Wrap-Up
• Oil prices (Brent) remained above $100 after Iran rejected negotiations with the U.S.
• U.S. natural gas prices hovered around $3/mmbtu as storage remains above average and natural gas production is on track to set new records.
• The combined oil & gas rig count remained stable at 545.
For More Information
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American Chemistry Council
The American Chemistry Council's mission is to advocate for the people, policy, and products of chemistry that make the United States the global leader in innovation and manufacturing. To achieve this, we: Champion science-based policy solutions across all levels of government; Drive continuous performance improvement to protect employees and communities through Responsible Care®; Foster the development of sustainability practices throughout ACC member companies; and Communicate authentically with communities about challenges and solutions for a safer, healthier and more sustainable way of life. Our vision is a world made better by chemistry, where people live happier, healthier, and more prosperous lives, safely and sustainably-for generations to come.
ACC - American Chemistry Council published this content on March 27, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on March 27, 2026 at 12:55 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]