The Chemical Activity Barometer (CAB) from the American Chemistry Council fell 0.4% in October on a three-month moving average (3MMA) basis following stable activity during the third quarter. On a year-over-year basis, the barometer was off 0.5% (3MMA).
The unadjusted measure of the CAB for October showed a 0.7% decline. The diffusion index fell to 47% in October – the first time since May 2016 that it was below 50%. The diffusion index marks the number of positive contributors relative to the total number of indicators monitored. The CAB reading for September was revised downward by 0.44 points and that for August by 0.25 points.