For the plastics industry, the world is the market and trade policies continue to evolve globally. PLASTICS monitors international trade developments and provides thorough analyses for its members across the supply chain.
For the plastics industry, the world is the market and trade policies continue to evolve globally. PLASTICS provides our 2024 Global Plastics Trends Report to understand what’s at stake for our industry - click here to learn more.
PLASTICS monitors international trade developments and provides thorough analyses for its members across the supply chain. To read our latest white paper on trade, click here.
The Consumer Price Index (CPI) rose 0.4% in December, ending 2024 with headline inflation at 2.9% and core inflation (excluding food and energy) at 3.2%.
The U.S. economy grew by 2.8% in 2024, narrowly exceeding PLASTICS forecast of 2.7%.
The U.S. unemployment rate averaged 4.0% in 2024, with December’s rate at 4.1%, as projected in the Plastics Quarterly forecast. Manufacturing unemployment averaged 3.2%.
Retail and food services sales increased 3.9% year-over-year in December, with motor vehicle and parts sales up 8.4%.
Housing starts rose 15.8% in December to a seasonally adjusted annual rate of 1.5 million units but remained 4.4% lower year-over-year.
U.S. plastics demand was estimated at $21.8 billion in November, marking a 1.3% decrease from the $22.7 billion estimate in October. Year-over-year, plastics demand decreased by 2.7%.
You can access the most recent Plastics Demand Estimate here link: here.
Plastic and rubber products manufacturing capacity utilization was 71.4% in December, flat in Q4 2024 and below expectations.
The Producer Price Index (PPI) for plastics material and resin manufacturing declined for the second consecutive month, down 0.9% in December and 1.3% year-over-year.
The Industrial Production Index on plastic products manufacturing saw a 0.6% uptick in December month-over-month but fell 2.5% year-over-year.
Following a 0.3% rate in November, unemployment in plastic and rubber products manufacturing rose to 5.9% in December.
U.S. imports of plastics machinery and parts decreased 2.3% to $3.1 billion (customs value) year-to-date through November, compared to the same period last year.
As part of our commitment to keeping you informed and up-to-date on the latest industry trends and economic data, I will be speaking at the following events:
