The Perc Report includes monthly highlights on the most recent economic and plastics industry data along with recent activities, articles, and blogs which you may have missed.
The 10-year Treasury yield hovered around 5.0% in October, its highest level since 2007, signaling higher U.S. government borrowing costs. In October, the total U.S. public debt reached $33.6 trillion, up by $2.4 trillion from the previous year.
Expectations for sales revenue growth in the next four quarters, as per the Federal Reserve Bank of Atlanta's Survey of Business Uncertainty, dropped to 3.4% in October, indicating anticipated economic weakness ahead.
The U.S. economy expanded at an annual rate of 4.9% in the third quarter, with durable goods and nondurable goods consumption increasing 7.6% and 3.3%, respectively.
Business investment spending on equipment fell by 3.8% in the third quarter, retracting from the 7.7% gain in the second quarter.
Motor vehicle and parts retail sales rose $1.4 million in September – closing the third quarter on a positive note.
The Industrial Production Index for plastics product manufacturing increased by 1.9% in September but fell by 4.5% year-on-year.
Plastics and rubber products manufacturing unemployment rate decreased from 5.6% in August to 1.5% in September.
U.S. corporations in plastics and rubber products manufacturing had total assets estimated at $290.6 billion in Q2 2023, a $4.6 million increase from the previous year.
The Producer Price Index for plastics bottle manufacturing dropped by 5.4% in September compared to the previous year. It peaked in January 2022 and began declining in June 2023.
The U.S. imported $742.8 million worth of molds from Canada year-to-date through August. Meanwhile, exports to Canada amounted to $54.0 million, resulting in a significant trade deficit of $688.8 million, making up about two-thirds of the U.S. trade deficit in plastic molds.
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