Third Quarter Finished Strong for Plastics Processing
September’s index hit 54. Processing is up about 9% year-to-date from 2016.
Registering 54 for September, the Gardner Business Index (GBI): Plastics Processing added another strong monthly reading to an already impressive 2017. The latest reading brings the index’s year-to-date average to 54. The Plastics Processing index was 54.3 over the third quarter. For both the year-to-date and 12-month periods, the index is up approximately 9%.
Gardner Intelligence’s review of the underlying data for the month indicates that supplier deliveries, new orders, and production lifted the business index higher, while employment, exports, and backlog pulled the index lower. The only component that contracted for the month was backlog.
Throughout the year, custom processors have reported slightly slower growth compared with the overall plastics processing market. Year-to-date, the index for custom processors is 52.8. The Plastics Processing Index is calculated by GBI each month based on surveys sent to subscribers of Plastics Technology magazine. Responses are received from custom processors,
OEMs from a range of end markets (captive processors), and material suppliers/compounders. Index values over 50 indicate expansion; values below 50 indicate contraction.
ABOUT THE AUTHOR: Michael Guckes is the chief economist for Gardner Intelligence, a division of Gardner Business Media, Cincinnati. He has performed economic analysis, modeling, and forecasting work for nearly 20 years among a wide range of industries. He received his BA in political science and economics from Kenyon College and his MBA from Ohio State University. Contact: (513) 527-8800; email@example.com. Learn more about the Plastics Processing Index at gardnerintelligence.com.
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