ACC's CAB records strong increase for May

摘要

ACC's chemical activity barometer (CAB), a composite of industry activity and leading economic indicator, increased 1.2% on a sequential three-month-moving-average (3MMA) basis in May, the group says. This follows a 1.0% increase in April. The CAB was up 18.6% on a year-on-year (YOY) basis, as the year-ago period included the deep trough of the COVID-19 recession. "The latest CAB reading is consistent with marked expansion of commerce, trade, and industry," says Kevin Swift, chief economist at ACC.