Fed Acts Again

The leading indicator for the chemical industry rose in March after a fairly steep decline in the previous month, analysts say. The indicator was pushed up by a rise in output in the chemical process industries, as well as a small increase in new orders for nondurable and consumer durable goods, they say. However, the March indicator is still below January levels due to a sharp decline in February. Overall consumer spending weakened in February, particularly domestic auto sales, which plunged 19% from January levels. Overall retail sales are down by an annualized...

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