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Industry News
Bloomberg News' Error-Filled Plastics Article
June 19, 2020 We create forums for experts to explore product life cycles and the problem of marine debris. In addition to the RECOVER Act, we support the Save Our Seas Act 2.0, another bipartisan bill to prevent waste in the oceans. Far from a “pariah,” as the reporter might hope, PLASTICS agrees with the majority of Americans who abhor litter and want to protect the environment. Plastic companies are leading the global effort. -
Industry News
Early Signs of an Upturn from the Great Economic Disruption?
June 10, 2020 While there are statistical improvements, monthly data tend to be noisy and there will be residual effects on what I call the great economic disruption. Government-mandated lockdowns due to the coronavirus pandemic interrupted an economy that has been chugging along. Nevertheless, these early signs of improvements provide some clues. For instance, plastics and rubber shipments decreased 9.1% or $1.8 billion in April from March, based on the U.S. Census Bureau estimates. -
Industry News
How the Plastics Industry is Providing Solutions During This Time of Crisis
May 11, 2020 The plastics industry is mobilizing to relieve the burden of COVID-19 on the nation’s healthcare system. Our members are making components for critical care machines, disposable medical items, and single-use packaging for treatments and food. Resin manufacturers are churning out material. Companies have added shifts or switched production lines to supply high demand for personal protective equipment and more. Stories of innovation, hard work and charity are countless. -
Industry News
U.S. Economy Shrank in the First Quarter
May 1, 2020 The advance estimate of gross domestic product (GDP) for the first quarter by the U.S. Bureau of Economic Analysis confirms the end of the longest economic expansion in U.S. history. The U.S. economy contracted 4.8% in the first quarter on a seasonally adjusted annual rate. This resulted in U.S. actual output to be lower than potential output or an output gap of $209.7 billion. Since the first quarter of 2018, U.S. output had exceeded its potential. -
Industry News
Retail Sales, New Residential Construction, and Industrial Production during COVID-19 Crisis
April 17, 2020 Sales of consumer essentials, which use substantial plastics products and plastics packaging, increased in March. Food and beverage stores saw a 25.6% increase in sales, with grocery store sales increasing by 26.9%. Healthcare and personal care store sales rose 4.3%. With the coronavirus shutdowns affecting travel and leisure activities, sporting goods, hobby, and musical instruments and bookstore sales fell 23.3%. Gasoline stations saw a 17.2% drop in sales. -
Industry News
PLASTICS Announces Three New Executive Leadership Roles
April 10, 2020 The Plastics Industry Association (PLASTICS) announced three new executive appointments. -
Industry News
PERCspective: Plastics Industry Added Jobs in March
April 3, 2020 The latest report from the U.S. Bureau of Labor Statistics shows the plastics industry continues to make essential products to protect healthcare workers and patients. The economy lost 701,000 jobs in March as business activities slowed due to the COVID-19 coronavirus and measures to contain it... Total manufacturing lost 18,000 jobs – 7,000 in durable goods and 11,000 in nondurable goods manufacturing. Plastics and rubber manufacturing, however, added 1,600 jobs in March. -
Industry News
Plastics 2019 Exports and Imports Down but Surplus Up
March 25, 2020 Judging from the 2019 trade data released in February, the U.S. plastics industry exports and imports fell 3.0% and 5.0%, respectively, from 2018. From the total $64.8 billion exports in 2018, exports fell to $62.9 billion last year. Imports decreased from $64.3 billion to $61.3 billion over the same period. -
Industry News
Letter to Members from PLASTICS President and CEO, Tony Radoszewski, CAE
March 24, 2020 "We recognize that many of our plastics industry companies are focused on other issues and we want to help our members plan effectively during this critical time. It is also of the utmost importance that we put the health and safety of members and the plastics industry first."