The American Chemistry Council's (ACC) tab of positive economic indicators were steady this week at 15 out of 20, posting a green banner but one with "a yellowish tint for the macroeconomic status," the group announced Friday.
The ACC's economic scale runs from green on the positive end of the scale to red on the lowest and most negative end, with yellow in the middle.
"Trouble remains in the housing sector as new homes sales declined but, the continued reduction in inventories is encouraging. Orders for durable goods surged but the gain was centered in transportation and for non-defense capital goods excluding aircraft -- a proxy for business investment -- orders fell. " the ACC said.
The ACC also said that chemical production fell for the second month in July, with production slipping in all regions. The global chemical production data indicate that global chemical industry output is experiencing a marked deceleration, and in some countries and regions, a downturn, the ACC said.
