HOUSTON (ICIS)--The American Chemistry Council’s (ACC) Chemical Activity Barometer (CAB) had a flat reading month on month in August, the ACC said on Tuesday.
The CAB reading of 122.14 on a three-month moving average (3MMA) basis continued a trend described by the ACC as “general softening” since the first quarter.
US commercial and industrial activity are seeing gains based on August data, likely well into the first quarter 2019. The ACC noted gains are at a slower pace as growth has turned over.
Of the CAB’s primary components (production, equity prices, product prices, inventories), production and inventory indicators were positive in August. Equity prices and product and input prices which were mixed, the ACC said.
The CAB is a leading economic indicator derived from a composite index of chemical industry activity.