Indicator Bides Time

The leading indicator for the chemical industry rose slightly in June, recouping most of the loss suffered in May. The indicator plunged 18% and chemical production about 10% from last October through January. The indicator has moved in a narrow range since then, and there has been little change in production of chemical products. New orders for manufactured products gained 0.7%, the second gain in the past three months. Orders for durables rose 1.7%, and machinery orders gained 0.6% after falling 7.3% in the previous month. Orders for computers fell 2.7%, while...

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