The Chemical Activity Barometer (CAB) expanded 0.4% in July following a revised 0.7% increase in June, 0.8% increase in May and 0.6% increase in April. All data is measured on a three-month moving average. Accounting for adjustments, the CAB remains up 2.6% over this time last year, an improvement over prior months. On an unadjusted basis the CAB jumped 0.6% in July, following a 0.2% gain in June.
In July, all four categories for the CAB improved for the fourth month in a row. Production-related indicators were positive, with trends in construction-related resins, pigments and related performance chemistry being mixed, and plastic resins used in packaging and other consumer and institutional applications largely showed improvement. Equity prices surged in July, joined by product prices gaining. Inventories and other downstream indicators were positive.