Indicator Drops Again

The October indicator dropped for a third consecutive month, primarily the result of last month’s 23% drop in share prices for chemicals. Looking at other components of the indicator, however, one does not get the impression that the economy is heading for a serious downturn. Industrial production in the chemical process industries rose a robust 0.5% for the latest calculation. There were output gains in building materials, nonferrous metals, and rubber and plastics products, while production in petroleum products and paper dropped. Over the entire third...

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