Decline Steepens

The leading indicator for the chemical industry fell 2.1% in July, following a 1.6% drop in June. All components of the indicator were weak. The average chemical industry stock price ended June nearly 7% below the previous month’s close and 17% below the most recent high. Industrial output in the chemical process industries registered two consecutive monthly declines. Production in June was below April levels in paper, petroleum refining, and primary metals. Rubber and plastic products showed no growth and there was only a small increase in building...

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