HOUSTON (ICIS)--The American Chemistry Council’s (ACC) Chemical Activity Barometer (CAB) rose in March, its sixth gain in a row following the 2017 hurricane season, the trade group said on Tuesday.
On a three-month moving average (3MMA) basis, the March CAB rose by 0.2% from February and was up by 3.8% compared to a year earlier.
Two of the CAB’s four main components, production and inventories, improved. Product prices and equity prices slipped, the ACC said.
Production-related indicators for March showed improvement following suppression from recent weather-related events.
The ACC noted positive gains in construction-related pigments as well as performance chemistries.
US exports also continues to rise, the ACC added.
The CAB is a leading economic indicator derived from a composite index of chemical industry activity.