Leading Indicator

The leading indicator for the chemical industry rose in June, as all of the indicator’s components were up, including the average chemical industry stock price. Output in the chemical process industries rose 0.6% in June, spurred on by a “strong rebound in petroleum refining,” although most of the industries in this sector also expanded, analysts say. The gain in June follows improvements in second quarter. The decline in business inventories, which had restrained the expansion in both fourth-quarter 2006 and first-quarter 2007, appears to have...

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