The Chemical Activity Barometer (CAB) posted no change in February on a three-month moving average (3MMA) basis. On a year-over-year (Y/Y) basis, the barometer is up 0.2% (3MMA). The unadjusted measure of the CAB rose 0.2% in February and 0.1% in January after a 0.2% decline in December.
“The Chemical Activity Barometer reading was essentially flat in February following three months of decline,” said Kevin Swift, chief economist at ACC. “The cumulative drop was 1.0% – still well below the 3.0% threshold for a recession signal. The latest CAB signals gains in U.S. commercial and industrial activity through mid-2019, but at a slower rate of growth as compared with a year earlier.”