Advance Resumes

The leading indicator for the chemical industry rose 0.3% in July, following a 0.5% drop in June. Over the past year, chemical industry output has advanced 3%, although there have been month-to-month gyrations. Production in the entire manufacturing sector gained 4.1%, with durable goods output rising 6.8% and nondurables 1.4%. The July rebound in the indicator was the result of a modest turnaround in stock prices for the chemical industry, strength in industrial production for the chemical-process industries, and a sharp increase in new home construction...

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