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.
Global output is now projected to grow by 2.0% this year and 3.0% next year, down from the previously forecasted 3.3% for both years, according to the IMF. U.S. GDP is expected to rise by 1.8% in 2025 and 1.7% in 2026. In the first quarter, U.S. GDP growth declined slightly by 0.3%.
Mexico's GDP is expected to fall 0.3% this year and grow 1.4% next year, according to the IMF. Canada could see 1.4% and 1.6% growth, while Germany may have no growth in 2025 before rising 0.9% in 2026. The Euro Area is projected to grow 0.8% this year and 1.2% next, and China could maintain 4.0% growth in both 2025 and 2026.
Headline CPI inflation was 2.4% in March, down from 2.8% in February and 3.0% in January. Core CPI inflation, which excludes food and energy prices, was 2.8%, lower than 3.1% in February and 3.3% in January.
Manufacturing new orders increased for the second consecutive month, rising by $3.6 billion in February following a $10.2 billion increase in January.
Corporate profits after tax, with inventory valuation and capital consumption adjustments, rose 5.9% in Q4 2024 from the previous quarter to $3.3 trillion.
U.S. plastics demand was estimated at $22.5 billion in February, lower than the revised January data by 1.7% monthly-over-month, but 0.4% higher from a year earlier.
You can access the most recent Plastics Demand Estimate here link: here.
Industrial capacity in plastics and rubber products manufacturing rose 0.1% in March, month-over-month, and 2.5% year-over-year. The capacity utilization rate was 71.7%, marginally higher than 71.0% in February and 70.0% in January.
The number of production and nonsupervisory employees in plastics and rubber products manufacturing increased 0.3% in March 2025 to 545.5 thousand but decreased 2.2% compared to a year earlier.
The Industrial Production Index for food manufacturing rose marginally by 0.1% in March, month-over-month, and 1.3% year-over-year, likely supporting modest but stable growth in demand for plastics food packaging.
The Producer Price Index for custom compounding of purchased resins decreased 0.6% in March, month-over-month, but was up 1.1% year-over-year.
Following a 3.5% increase in February, the Industrial Production Index for plastic materials and resin manufacturing decreased 0.1% month-over-month and 0.9% year-over-year in March.
The latest Plastics Producer Price Indices data is now available on the PLASTICS website. Producer price indices for resins increased both month-over-month and year-over-year, while the producer price index for recyclable plastics declined sharply over the same periods.
As part of our commitment to keeping you informed and up-to-date on the latest industry trends and economic data, Dr. Pineda will be speaking at the following events:
Piovan Unadyn Open House | May 14, 2025 | Fredericksburg, VA
