ACC's Economic Outlook for the Week Ended Sept. 21, 2012

MACROECONOMIC STATUS Our running tab of positive indicators was 15 out of 20 this week. Thus, we continue to post a green banner. Housing Starts up 2.3%; up 29.1% year-on-year (YOY) Building Permits down 1.0%; up 24.5% YOY Existing Home Sales up 7.8%; up 9.3% YOY LEI down 0.1%; up 2.1% YOY Empire State Mfg. Survey down 4.6 points to -10.4 (contracting) Philly Fed Survey up 5.2 points to -1.9 (contracting at slower pace) BUSINESS OF CHEMISTRY STATUS For the business of chemistry, the indicators bring to mind a green banner for basic and specialty chemicals. Oil...

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