21 August 2012 16:42 [Source: ICIS news]
WASHINGTON (ICIS)--A leading ?xml:namespace>
The August gain followed a slim 0.2% improvement in July.
While the two-month run of improvements in the barometer was narrow, it represents a change of direction from declines of as much as 0.7% seen in the previous three months.
ACC chief economist Kevin Swift said that the CAB gains in July and August “suggest slow economic growth for the remainder of the year”.
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
Swift said the August improvement was driven chiefly by improving equity prices and positive trends in construction and chemicals production related to light vehicle manufacturing.
However, he said, the August CAB data also include indications that
That could spell trouble for the still wobbly
Slowing export activity could have disproportionate impact on the overall
Paul Hodges studies key influences shaping the chemical industry in Chemicals and the Economy
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