Extrusion International 2-2024-USA

27 Extrusion International 3/2022 Analysis „Dynamics of U.S. Plastics Materials and Resin Trade in 2023“ Released The Plastics Industry Association (PLASTICS) has released an official analysis on the dynamics of the U.S. plastics materials and resin trade in 2023, authored by PLASTICS Chief Economist, Dr. Perc Pineda. Dr. Pineda writes, “The U.S. trade balance in plastic materials and resin improved, marking a 3.9% increase in 2023 compared to the previous year. This improvement is attributed to a more substantial de- crease in the dollar value of imports, which declined at a higher rate com- pared to the decrease in exports. In 2022, the U.S. trade surplus for plas- tic materials and resin amounted to $21,283.67 million, and it rose to $22,106.85 million in 2023.” To read the full analysis on the PLASTICS blog page: www.plasticsindustry.org/blog/ analyzing-the-dynamics- of-u-s-plastics-materials-and-resin- trade-in-2023/ Analysis „March Jobs Report“ Released The Plastics Industry Association (PLASTICS) has released an official analysis of the March jobs report and its impact on the plastics in- dustry, authored by PLASTICS Chief Economist, Dr. Perc Pineda. Dr. Pineda writes, “The U.S. labor market outperformed expectations in March, adding 303K nonfarm payrolls, demonstrating resilience despite a high-interest-rate envi- ronment. The unemployment rate remained low at 3.8%, with certain sectors reporting even lower rates. For instance, the manufacturing in- dustry saw a 3.0% unemployment rate, while the plastics and rubber products manufacturing sector re- ported a mere 2.1% unemployment rate. It is worth noting, however, that despite these low unemploy- ment rates, the plastics and rubber products manufacturing sector ex- perienced a decrease in payrolls of 1.1K during the same period.” To read the full analysis on the PLASTICS blog page. www.plasticsindustry.org/blog/ u-s-labor-market-services-and-govern- ment-rise-manufacturing-struggles- to-fill-jobs/ 2023 Q4 Committee on Equipment Statistics Report Issued PLASTICS released the Committee on Equipment Statistics’ (CES) re- port for the fourth quarter of 2023, authored by Chief Economist, Dr. Perc Pineda. Dr. Pineda writes, “While the unexpected 2.5% U.S. economic growth in 2023 averted a recession, primarily fueled by robust house- hold spending in the services sec- tor, signs of recovery may emerge in 2024. Sustained consumer spending could prevent economic deterioration, especially if labor markets continue to stay healthy. As interest rates begin to return to normalcy from inversion, there’s a likelihood that business invest- ment, including in equipment, will reverse course. https://8568633.fs1.hubspotusercon- tent-na1.net/hubfs/8568633/ CES_Media_Report_Q4-2023.pdf Dr. Perc Pineda www.smart-extrusion.com