ACC's Economic Outlook for the Week Ended Sept. 23, 2011

MACROECONOMIC STATUS Our running tab of positive indicators was 12 out of 20 this week. Thus, we continue to post a yellow banner. Existing Home Sales up 7.7% to 5.03 million units; up 18.6% Y/Y Housing Starts down 5.0%; down 5.8% Y/Y Building Permits up 3.2%; up 7.8% Y/Y LEI up 0.3%; up 6.5% Y/Y BUSINESS OF CHEMISTRY STATUS For the business of chemistry, the indicators bring to mind a yellow banner for basic and specialty chemicals. Oil down $80.51 (Thursday) Natural Gas down $3.73 (Thursday) Railcar Loadings up 2,253 from a week ago; up 2.1% Y/Y (13‐week...

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