What April manufacturing data said about paper and plastics
Recent data from the Institute for Supply Management and S&P Global provide insights into key commodities as packaging companies experience ongoing demand shifts.
The paper products industry showed growth in April, while plastics contracted, according to April manufacturing data.
The Institute for Supply Management’s Report on Business recorded a Purchasing Managers’ Index at 47.1%, a 0.8 percentage point increase from March and a fifth month of consecutive economic contraction. S&P Global’s US Manufacturing PMI indicated growth this past month, with a reading of 50.2, the first time since this past October it’s been above 50.0, which indicates economic expansion in the industry.
Overall, plastics and rubber products were among the industries that contracted in April and reported slower supplier deliveries, shrinking inventories and paying higher prices for raw material. The category also reported that customer inventories were too high. Import volumes were lower, as were new export orders. But this category was also among the industries that reported growth in new orders, production and employment for the month.