“July data continues to suggest that broader U.S. economic growth in the second half of 2012 will be weak, while the CAB also suggests a slowing of U.S. exports during the rest of the year,” said Dr. Kevin Swift, chief economist at ACC. “Looking at the data, one bright spot for the economy is the positive trends in the light vehicles and housing sectors which could possibly suggest a forward momentum building in these sectors.”

Data showed production-related chemistry indicators were mixed at best. In addition, trends in plastic resins used in consumer and institutional applications have softened and overall trends suggest slowing U.S. exports.