Plastics Processing Dips Again in August

The Gardner Business Index (GBI): Plastics Processing closed August at 48.2, slightly down from July’s 49 reading. The index is based on survey responses from subscribers to Plastics Technology. Readings above 50 mean growth; below 50, contraction.

Fig 1: Plastic processing activity contracted again in August for total plastics processing and custom processing.

Among the key components tracked, new orders contracted the most, followed by backlogs and production. Supplier deliveries continued to lengthen at a slower rate, while exports contracted at about the same rate as in July.

Fig 2: All components contracted in August, with the exception of supplier deliveries and employment, which continued their mode of slowing growth. (3-MMA = three-month moving averages.)

Overall business activity for custom processing contracted more than total processing, closing the month at 46.5, about the same as in July.

EDITOR’S NOTE: Finding reliable and relevant data to help guide your business is always important, but especially so during challenging economic times. For this reason, the GBI Plastics Processing Index serves as a great tool for making data-driven decisions. Thank you to everyone who has previously completed GBI surveys. Your participation helped increased response in 2021-2022, making the GBI better than ever because of your involvement. Thank you for your time and efforts and for trusting us to provide you with the latest industry and business insights both in the past and in the future.

If you are a North American plastics processor and would like to participate in this research, click here to begin the process by subscribing free to Plastics Technology magazine.

ABOUT THE AUTHOR: Jan Schafer is director of market research for Gardner Business Media, parent company of both Plastics Technology magazine and Gardner Intelligence. She has led research and analysis in several industries for over 30 years. She has a BA in psychology from Purdue University and MBA from Indiana University. She credits Procter & Gamble for 15 years of the best business education. Contact: (513) 527-8952; jschafer@gardnerweb.com.