24 July 2012 15:40 [Source: ICIS news]
WASHINGTON (ICIS)--A key indicator of ?xml:namespace>
“July data continue to suggest that broader
Slowing export activity could have disproportionate impact on the overall
Consequently, a decline in export trade could further jeopardise the already wobbly
The council also noted that a three-month moving average for the chemical activity barometer declined in July, further suggesting “muted growth prospects in the months ahead”.
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 the ACC.
“The chemical industry has been found to consistently lead the
Although the CAB flat-lined in July, the three straight months of decline in the measure leading up to July are “historically a sign of slowing economic activity”, the council said.
Applied retroactively, the CAB was at 90.3 in March, fell to 90 in April, then to 89.4 in May and to 88.5 in June.
The continuing weak economic data reflected in the CAB echo multiple other recent reports indicating that the
Federal Reserve Board chairman Ben Bernanke said last week that the
US business economists also reported that they expect the nation’s economy to weaken in the second half, and the International Monetary Fund (IMF) warned that the euro crisis has reached a new and critical stage.
Paul Hodges studies key influences shaping the chemical industry in Chemicals and the Economy
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections