The American Chemistry Council's (ACC) tab of positive economic indicators closed up 3 at 15 out of 20, posting a green banner, 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.
"After months of lousy news, this in itself is welcome! The payroll report was positive and came in ahead of relatively modest expectations. Job growth, however, remains weak and has yet to make a sizable dent in the 14 million unemployed. As a result, the unemployment rate remained at 9.1% where it has been stuck the past several months. Construction spending rose and posted its first Y/Y gain in four years suggesting that a bottom in overall construction spending occurred earlier in the year. Vehicle sales rose to their highest level since the supply chain disruptions of last spring. Global semiconductor sales rose on higher demand for electronics." the ACC said.
