Indicator Moves Forward

The leading indicator for the chemical industry rose 0.8% in October, following a slight drop in the previous month. A strong rebound in the stock market and strength in new home construction are the main factors behind the leading indicator’s upturn. The indicator peaked in April and still remains below that peak, despite some fluctuations. Housing starts rose 10.6% in August and maintained that level in September with a 0.3% gain. New home sales are at record lows, but so are inventories of unsold new homes due to the lack of new construction. Analysts...

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