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.