Live from the IMF/World Bank Spring 2024 meetings. Global economic growth now expected at 3.2% this year and the next. The U.S. could grow by 2.7% this year and by 1.9% next year, according to the IMF.

New Billie Eilish Album to Use Recycled and Bio-based Vinyl plasticsengineering.org/2024/04/new-bi… #BillieEilish #Vinyl #Plastics #BioBasedVinyl #PlasticsEngineering

Clothing retailer Express has filed for chapter 11 bankruptcy with plans to initially close at least 18% of its 584 stores wsj.com/articles/appar… via The Wall Street Journal

Meanwhile...other developments in retail include... US sues to block merger of Coach and Michael Kors handbag makers reuters.com/markets/deals/…

The U.S. weekly average for 30-year fixed-rate mortgages has seen a steady climb since March 28, 2024. Initially at 6.79%, it increased to 7.10% by April 18, 2024, according to Freddie Mac’s primary mortgage market survey.

2024-Q1 Real GDP grew 1.6%, below our 1.8% projection. PCE growth slowed to 2.5%; services consumption up 4.0%. Durable goods consumption down by 1.2%. Residential investment up by 13.9%, but nonresidential structure dipped by 0.1%. Equipment investment rose by 2.1%.

In case you were wondering what it looks like inside the NPE: The Plastics Show halls during move-in days.

Current interest rates are sustaining economic growth. Parsing the aggregate, housing and manufacturing sectors remain weak. The labor market remains strong, yet inflation persists at elevated levels. There's no need to excessively scrutinize the Fed's recent decision.

LS Mtron opens Texas technology center with eye on US production plasticsnews.com/news/ls-mtron-… via Plastics News LS Mtron Injection Molding Machine USA Catherine Kavanaugh

morningstar.com/news/dow-jones…

Despite moderate economic growth & household spending, capital expenditures have continued to rise. In his new blog, Perc Pineda, PhD explains what these trends mean for the economy and plastics industry. brnw.ch/21wKwa9

The significant reduction in the unemployment rate in plastics and rubber products manufacturing to 0.4% in May from 1.9% i n April suggests a strong consumer demand for plastics and rubber products. In May, 400 jobs were added in this sector. barrons.com/livecoverage/m…

The Industrial Production Index for plastics product manufacturing was up 0.7% in May M/M. Y/Y it was up 1.4%. May saw the 4th consecutive monthly increase.

Shifting U.S. manufacturing to high gear requires concrete state and federal policies to address workforce development challenges and a regulatory environment that enhances the manufacturing sector’s ability to tap productivity-increasing technology. wsj.com/business/marvi…

Hiring in August was weaker than expected. The unemployment rate in plastics and rubber products manufacturing increased from 3.0% in July to 4.2% in August, while the number of employees remained unchanged. nytimes.com/2024/09/06/bus…

The Fed has cut rates by 25 basis points to a target range of 4.50%–4.75% in response to a cooling labor market and easing inflation. Another 25-basis-point rate cut is likely in December.

It seems that our quarterly forecast to members last week, predicting headline CPI inflation would settle at 2.9% in 2024, was right on target. cnbc.com/2025/01/15/cpi…

plasticstoday.com/legislation-re…

The U.S. economy grew by 2.8% in 2024, slightly surpassing PLASTICS' forecast of 2.7%.

The unemployment rate in plastic and rubber products manufacturing dropped to 2.9% in February, confirming that the elevated 8.2% rate in January was transitory.