March 2017 Index: 55.1

With a reading of 55.1, Gardner’s Plastics Business Index grew for the third month in a row in March and at its fastest rate since January 2015. The index has grown at a slightly faster rate each month in 2017. Custom processors have experienced consistently robust growth each month in 2017. Plastics/rubber product manufacturers have grown in seven of the last eight months.

New orders and production both grew for the third month in a row. And both indices grew at a slightly slower rate than in February. The backlog index increased for the second time in three months. The rate of growth in March was the fastest since February 2012. The trend in the backlog index indicated that capacity utilization should increase in 2017. Employment increased for the third straight month. Exports have contracted at an accelerating rate since October 2016. Supplier deliveries lengthened at their fastest rate since February 2015.