ACC's economic outlook for the week ended 22 February

MACROECONOMIC STATUS Our running tab of positive indicators rose by one to 12 out of 20 this week. Thus, we continue to post a yellow banner. Consumer prices flat 0.0%; up 1.6% year-on-year (YOY) Producer prices up 0.2%; up 1.4% YOY Housing starts down 8.5%; down 23.6% YOY Building permits up 1.8%; up 35.2% YOY Existing home sales up 0.4%; up 9.1% YOY LEI up 0.2%; up 2.1% YOY Philly Fed Survey down 6.7, to -12.5 (shrinking) Small business pptimism up 0.9 points, to 88.9 BUSINESS OF CHEMISTRY STATUS For the business of chemistry, the indicators bring to mind a...

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