The American Chemistry Council's Chemical Activity Barometer (CAB) posts a 0.2% gain in October on a three-month moving average (3MMA) basis. The barometer is up 3.8% (3MMA) year-over-year. The pace of growth has slowed from earlier in the year. The unadjusted CAB declined 0.2% in October and reflected a 3.0% increase year-over-year.
Major components of the barometer were mixed in October. Plastic resins used in packaging gained, while other consumer and institutional applications were mixed, reflecting a recent weakening in retail sales. Equity prices retreated sharply in October and product and input process were mixed while inventories remained positive. The diffusion index fell to 53%. This index marks the number of positive contributors relative to the total number of indicators monitored.
The Chemical Activity Barometer has four primary components, each consisting of a variety of indicators: 1) production; 2) equity prices; 3) product prices; and 4) inventories and other indicators.
For more information, visit: www.americanchemistry.com