WASHINGTON — Shipments of plastics machinery posted a moderate year-over-year gain in the first-quarter, even as the U.S. economy had a sluggish start to 2015, according to the Society of the Plastics Industry Inc.
The value of U.S. shipments of primary plastics machinery — injection molding, extrusion and blow molding machinery — totaled $293.6 million in the first quarter of 2015, a gain of 2.9 percent when compared to the same quarter a year ago. The first-quarter shipments were down 15.2 percent from $346.1 million in the fourth quarter, historically the strongest three-month period for machinery.
SPI called it an ongoing machinery uptrend, as primary equipment shipments increased 7.6 percent for the full year of 2014.
SPI's Committee on Equipment Statistics released the first quarter numbers on June 17.
Plastics economist Bill Wood thinks the second half also will be strong. He analyzes and reports on the machinery sector for the CES.
“Yet again, the quarterly CES shipments data posted a year-over-year gain. This is particularly encouraging in light of the slower-than-expected growth in the U.S. economy to start the year,” Wood said. “The U.S. economy will build momentum in the second half of 2015, and the market conditions that favor business investment in new equipment — low interest rates and rising aggregate demand—will continue to prevail.”
Big jump in blow molding equipment