The Organization for Economic Cooperation and Development’s (OECD; Paris, France; www.oecd.org) most recent composite leading indicator (CLI) suggests stable growth momentum in the OECD as a whole, according to the latest Weekly Chemistry and Economic Report from the American Chemistry Council (ACC; Washington, D.C.; www.americanchemistry.com).
Data from the OECD CLI for October point to growth to lose momentum in Europe, particularly in Germany and Italy, while the outlook is for stable growth in most other major economies, including the U.S., Canada, China and Brazil, and in the OECD as a whole, the ACC report said.
The ACC report said that most of the week’s economic data were positive. Citing information from the U.S. Census Bureau, ACC said that sales of chemicals at the wholesale level rose 3.0% in October in the U.S. to $11.16 billion. This follows a decline in wholesale chemical sales in September. The inventories-to-sales ratio fell from 1.16 in September to 1.11 in October.