It's a good time to be in the business of making "stuff."
At least that's what Bill Wood, Plastics News economics editor, says. During the June 27 Numbers that Matter Live webinar, he said that there will continue to be a demand for manufacturing of things close to home. That's good news for the plastics industry.
"We are going to have to make stuff and we are not going to be able to rely on anybody else to make that stuff here," he said.
Having good trade partners is important, he said, but that also relies on partners with strong positions on both making and selling items.
"Overall, most of our major end markets are in long-term expansionary phases," he said. "This is a good time to be in America, investing in America."
Wood also noted that he still does not believe a big recession is imminent, although for the next few months any growth will be very small and limited to individual end markets.
"There are still some risks to the growth trend," he said. "We have some risks that you can't ignore [and] you can't discount."
But the overall picture is good. PN subscribers can watch the full webinar here.