Along with other economic data, the composite leading indicator (CLI) for May among the Organization for Economic Cooperation and Development (OECD) countries signals an easing of economic activity in most major OECD countries, and a more marked slowdown in most major non-OECD economies, according to the most recent Weekly Chemistry and Economic Report from the American Chemistry Council (ACC; Washington, D.C.; www.americanchemistry.com).
The CLI data were consistent with the week’s economic reports, ACC said, which were generally negative. In the chemical industry, U.S. exports rose, and wholesale sales declined. Trends in railcar loadings data continue to point to a slow economy, the ACC report said.