The Perc Report includes monthly highlights on the most recent economic and plastics industry data along with recent activities, articles, and blogs that you may have missed.
Economic Data
Headline CPI inflation was 2.4% in May, slightly higher than April’s 2.3%. Core CPI inflation held steady at 2.8% for the third consecutive month.
At its June 17 meeting, the Federal Reserve left the federal funds rate unchanged at a target range of 4.25%–4.50% and maintained its projection of two rate cuts this year. The Fed projects a 1.4% GDP growth rate for 2025.
Industrial production slowed in May, rising 0.6% year-over-year, down from a 1.4% increase in April. Manufacturing output rose 0.6%, following a 1.2% increase in April.
Corporate profits after tax, with inventory valuation and capital consumption adjustments, were estimated at $3.12 trillion in Q1—3.6% lower than the previous quarter but 5.1% higher than a year earlier.
Aerospace product and parts manufacturing rose 8.5% year-over-year in May, marking its seventh consecutive monthly increase.
Plastics Demand Estimate
U.S. plastics demand was estimated at $22.7 billion in April, up 0.2% from March and 0.4% from a year earlier.
To access the most recent Plastics Demand Estimate, click here.
Plastics Industry Data
Plastic products manufacturing pared back its gains from March, with declines of 0.4% in April and 0.1% in May. Work-in-process inventories in plastics and rubber products manufacturing remained flat at $4.4 billion in both March and April.
The growth in industrial capacity for plastics and rubber products manufacturing slowed in May, increasing by just 0.1%. Capacity expanded 2.2% compared to May 2024.
The unemployment rate in plastics and rubber products manufacturing rose to 5.7% in May, up from 5.4% in April.
U.S. exports of molds for plastics rose 10.7% in April from the previous month but were down 21.9% compared to April 2024. Exports to Mexico totaled $93.8 million year-to-date through April. Mold imports declined 18.1% in April from March but were 13.2% higher than in April last year.
The latest Career Opportunities in Plastics infographic by PLASTICS projects a 13.6% increase in engineering jobs in the plastics industry by 2033.
The latest Shipments and Inventories data is now available on the PLASTICS website. This release features new interactive tools, including a timeline slider that lets users select a specific period of interest, automatically updating charts, along with basic data analytics enhancing insights and usability.
