Washington D.C.— The Plastics Industry Association (PLASTICS) released the Committee on Equipment Statistics’ (CES) report for the fourth quarter of 2023, authored by Chief Economist, Dr. Perc Pineda.
Dr. Pineda writes, “While the unexpected 2.5% U.S. economic growth in 2023 averted a recession, primarily fueled by robust household spending in the services sector, signs of recovery may emerge in 2024. Sustained consumer spending could prevent economic deterioration, especially if labor markets continue to stay healthy. As interest rates begin to return to normalcy from inversion, there’s a likelihood that business investment, including in equipment, will reverse course.”
Click here to read the report.
The Plastics Industry Association (PLASTICS) is the only organization that supports the entire plastics supply chain, including Equipment Suppliers, Material Suppliers, Processors, and Recyclers, representing over one million workers in our $548 billion U.S. industry. PLASTICS advances the priorities of our members who are dedicated to investing in technologies that improve capabilities and advances in recycling and sustainability and providing essential products that allow for the protection and safety of our lives. Since 1937, PLASTICS has been working to make its members, and the seventh largest U.S. manufacturing industry, more globally competitive while supporting circularity through educational initiatives, industry-leading insights and events, convening opportunities and policy advocacy, including the largest plastics trade show in the Americas, NPE2024: The Plastics Show.