26 June 2012 21:47 [Source: ICIS news]
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In the inaugural issue of its monthly chemical activity barometer (CAB), the American Chemistry Council (ACC) said that the already wobbly
CAB, the council’s new leading economic indicator, fell by 1.3% in June from a retroactive measure of the barometer for May.
Developed by the ACC’s economics department, the CAB combines data from a range of chemicals and sectors including production of chlorine and other alkalies, pigments, plastic resins and other basic industrial chemicals.
The barometer also factors in chemical company stock data, hours worked in chemicals manufacturing, and publicly available chemicals pricing and inventories. Broader data sets, such as housing starts and new orders for general manufactured goods, also are included, according to ACC chief economist Kevin Swift.
“The chemical industry has been found to consistently lead the
The council noted that chemicals production is one of the largest
“The CAB provides a long lead for business cycle peaks and troughs and can help identify emerging trends in the wider
“After a relatively strong start to 2012, the CAB is signalling a slowing of the
Retroactive to the beginning of this year, the monthly CAB showed US economic gains of 0.6% in January, 0.2% in February and 0.6% in March.
But beginning with a 0.6% decline in April, the CAB shows economic cooling of 0.7% in May and the sharper 1.3% drop in June.
The CAB indicator of a cooling
The CAB has been calculated for the overall
($1 = €0.80)
Paul Hodges studies key influences shaping the chemical industry in Chemicals and the Economy
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