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Industry News
Automotive: Plastics End-Market Recovery Takes Shape
October 16, 2020 Consumer engagement improved at the close of the second quarter even though the economy was not at full employment. Retail sales in June, July, and August were higher than pre-COVID-19 levels. Auto and light truck sales also started to increase from the April lows. The same pattern of improvement emerged in automotive production and assemblies. -
Industry News
Plastics Industrial Production and Capacity Utilization Improved in August
September 23, 2020 Following the decline in plastics products manufacturing in April, the latest data from the Board of Governors of the Federal Reserve System of the U.S. shows continuing improvements over the past four months. Although the industrial production index on plastics products is still running below the pre-COVID-19 level, the path reversed from April's low. -
Industry News
Trade in Molds for Plastics Manufacturing: A V-shaped Recovery
September 8, 2020 As far as the U.S. plastics industry, exports of plastics molds in June were 36% above June 2019. Imports were up 4.0% from a year ago. Both exports and imports of molds are back to pre COVID-19 levels. This could be an indication that demand at plastics processors has picked up in both domestic and export markets since the lockdowns in March. -
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.