Index falls again. Where's the end?
By Staff -- Purchasing, 3/11/1999
Purchasing's index of industrial chemical prices has fallen for the fourth month in a row--down 4.64 points to 79.35. This places the index 21.20 points lower than for the same period last year, fairly consistent with similar comparisons over the past few months.How much longer is this decline going to continue? After all, the index has fallen for eight of the past twelve months. According to buyers, the end of the decline may be in sight. Buyers forecast that the index will climb to an average of 84.0 in the second quarter of this year, and to an average of 89.0 by the third.
All the indices for chemical groups tracked are down compared to the same period last year. But in most cases, buyer forecasts say price tags will trend upward in the second quarter, lifting the indices for the second half of this year.
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