Deflation Looms

The leading indicator for the chemical industry fell in November for the third consecutive month. Each component of the indicator is pointing toward contraction. Industrial production in the chemical process industries has dropped for two consecutive months, and new orders for manufactured products are weak, analysts say. New construction dropped 4.5% in October, setting a record for the lowest number of housing starts in a single month. Permits for future construction fell 12%. The Producer Price Index, the most widely watched of the price indices, dropped a...

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