The American Chemistry Council's Chemical Activity Barometer slipped 0.1% in April to 121.6% on a three-month moving average (3MMA) basis. This follows six consecutive monthly gains and a dip from the barometer’s highest point since modeling began. The barometer remains up 3.8% on a 3MMA compared to a year earlier.
Despite the 0.1% decline, all four major components remained strong. April production-related indicators improved with U.S. exports rising again and performance chemistries gaining strength. Equity prices, along with product and input prices also rebounded while inventory remained very positive.