Chemical Activity Barometer Rises in September: ACC

USA: Market Scenario Chemical Activity Barometer Rises in September: ACC

12.10.2020Editor: Ahlam Rais

The American Chemistry Council (ACC) has reported that its Chemical Activity Barometer rose 1.6 % in September on a three-month moving average basis following a 2.7 % gain in August.

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The unadjusted data show a 0.7 % gain in September following a 2.2 % gain in August and a 1.9 % gain in July.
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Washington/USA – The Chemical Activity Barometer (Cab), a leading economic indicator created by the American Chemistry Council (ACC), rose 1.6 per cent in September on a three-month moving average (3MMA) basis following a 2.7 per cent gain in August. On a year-over-year (Y/Y) basis, the barometer was down 4.3 per cent in September.

The unadjusted data show a 0.7 per cent gain in September following a 2.2 per cent gain in August and a 1.9 per cent gain in July. The diffusion index rose from 35 per cent to 65 per cent in September. The diffusion index marks the number of positive contributors relative to the total number of indicators monitored. The Cab reading for August was revised upward by 0.89 points and that for July was revised upward by 0.42 points.

“With five consecutive months of gains, the September Cab reading is consistent with recovery in the U.S. economy,” said Kevin Swift, chief economist at ACC.

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The Cab has four main components, each consisting of a variety of indicators: 1) production; 2) equity prices; 3) product prices; and 4) inventories and other indicators.

In September, production-related indicators were mixed. Trends in construction-related resins, pigments and related performance chemistry were positive and suggest further gains. Resins and chemistry used in light vehicles and other durable goods were positive.

Gain in plastic resins used in packaging and for consumer and institutional applications were mixed as economic recovery in the service sector slows. Performance chemistry improved, while U.S. exports were mixed. Equity prices flattened, while product and input prices were fairly stable. Inventory and other supply chain indicators were positive.

Chemical Activity Barometer for the Latest Six Months and Year Ago Month
(Source: ACC)

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