U.S. plastics production will slow down from the red-hot growth rate of 6 percent that it’s seen in the first two quarters of 2022, but it will still remain above average for the year and will stay ahead of pre-COVID levels, according to Plastics News Economics Editor Bill Wood.
In the latest Numbers that Matter Live, Wood said he expects the packaging sector to be strong and medical to improve. But he was less optimistic about construction and automotive, which may be impacted by higher interest rates.
On inflation, he said “we’re gradually getting to a more normal situation,” adding that might take one or two years.