April 25 Reuters Chemicals maker Dow beat firstquarter profit estimates on Thursday, helped by higher sales volumes as global manufacturing activity shows signs of growth.

China39;s manufacturing activity expanded for the first time in six months in March while U.S. manufacturing grew for the first time in about 18 months, benefiting Dow whose products are used in a range of industries.

The company said volumes rose 1 compared to last year, with gains in all regions except Europe, the Middle East, Africa and India.

U.S. prices of natural gas , a key feedstock for chemical firms, touched a threeandahalfyear low in February due to mild weather and boosted its margins.

Its net sales declined by 9 to 10.77 billion, hurt by a 10 decline in local prices but topped expectations of 10.74 billion, according to LSEG data.

Chemical firms had raised their prices in 2022 to tackle inflation after Russia39;s invasion of Ukraine tightened feedstock supplies.

Sales in its largest segment, packaging and specialty plastics, fell 11 to 5.43 billion, hurt by a decline in prices.

Performance materials and coating sales fell about 5 to 2.16 billion but beat Wall Street estimates of 2 billion.

In the nearterm, demand in key endmarkets from packaging and mobility to energy applications are trending sequentially higher, Jim Fitterling, chief executive officer of Dow, said in a statement.

The Midland, Michiganbased company reported operating earnings per share of 56 cents for the…