“The second consecutive quarter of decline in shipments is not due to a pullback in plastics demand. In fact, based on monthly Plastics Demand Estimate, ∗ there has been growth in demand recently. There is no indication that the baseline demand for plastic products has deteriorated," commented PLASTICS’ Chief Economist, Perc Pineda, PhD. Manufacturers’ finished goods inventories of plastics and rubber products were estimated at $15.0 billion in June this year, compared to $15.2 billion in June last year, indicating slow inventory adjustments.
Results from the latest CES quarterly survey showed that a high percentage (79.9%) of respondents anticipate steady or improved market conditions over the next twelve months. However, 40.0% reported an increase in quoting activity, which was lower than the 48.9% in the previous quarter’s survey citing an increase in quoting activity.
