Kickstart: This month's economic surprise? The plastics industry is still growing

Something unexpected has happened to the U.S. plastics industry on its way to a slowdown forecast for 2022: It hasn't actually slowed down. At least not yet.

In the monthly Numbers That Matter Live webinar, Plastics News Economics Editor Bill Wood said Aug. 23 that the overall plastics industry data has continued to do well.

"The data, to my surprise, is still showing upward momentum," he said. "I thought it would peak and start to decelerate [in the second half of 2022] … and we just got a number from July and when compared with the same month a year ago and the June number of this year, it increased. It's showing upward momentum still."

That's not to say that every part of the plastics industry is doing well, but overall, there is strength, he said.

Regardless of the July numbers, Bill still expects a slowdown at some point this year.

"I think we will decelerate in the second half of the year but we haven't started to do that yet," he said.

PN subscribers can see the Aug. 23 webinar here for more on Bill's take on what the industry can take from available economic data, including his thoughts on the potential for sturdy U.S. molders to take advantage of economies that are struggling in Europe and Asia.

And speaking of Europe, PN's Frank Esposito has a story looking at a range of production slowdowns at materials companies in the region in the face of rising natural gas prices.

Because Europe sources much of its gas from Russia, the war in Ukraine has had a big impact.

"Natural gas prices in Europe were up another 10 percent on Aug. 22 to 292.5 euros per kilowatt hour before closing at 278," he writes. "At 292.5 euros per kilowatt hour, the price is the equivalent of $85 per million British thermal units, the measurement used in the U.S. By comparison, U.S. natural gas prices closed at $9.68 per million Btus on Aug. 22, more than double its price at the start of the year."

It's time to celebrate containers. Or at least it's time to celebrate finding a container big enough to handle your thirst for a Slurpee but small enough to fit under the Slurpee dispenser.

The 7-Eleven retail chain has resumed its "Bring Your Own Cup" promotion for 2022 after a two-year COVID-19 hiatus. On Aug. 27, customers can bring their own oversized cup and fill it for $1.99.

In the past, that has seen customers haul in everything from commercial-size trash cans to kiddie pools, but 7-Eleven has since limited the size. Now the "cup" must be able to fit through a 10-inch diameter hole at a store display.

Cups also must be clean (of course) and watertight.

"As the saying goes, 'if it fits in the cup, fill 'er up,'" 7-Eleven said in announcing the return of BYOC.