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From the American Chemistry Council: Leading Economic Indicator Shows U.S. Economy on the Upswing; Consumer-Driven Production Gains Strengthen
The pendulum of the U.S. economy remains on the upswing, according to the American Chemistry Council’s (ACC) monthly
“As we approach the fourth quarter, the U.S. economy seems to be making strides, compared to the baby steps of earlier in the year,” said Dr. Kevin Swift, chief economist at the American Chemistry Council. “The Chemical Activity Barometer is showing a strengthening of year-over-year growth and suggests an economy which finally may be gaining momentum,” he added.
This graph shows the year-over-year change in the 3-month moving average for the Chemical Activity Barometer compared to Industrial Production. It does appear that CAB (red) generally leads Industrial Production (blue).
And this suggests that economic activity is increasing.