Slight Decline

The leading indicator for the chemical industry fell 0.1% in August. There has been minimal movement in the indicator over the past three months and output in the chemical industry has stagnated. Production of chemicals fell 0.3% in July, and over the past 12 months has advanced 2.4%, compared with an increase of 4.2% for the entire manufacturing sector. Production of durable goods gained 6.6% over this time period, while nondurables were ahead by 1.7%. Gyrations in the stock market have also affected the indicator, as average chemical industry stock prices have...

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