WASHINGTON — February 23, 2023 — The Plastics Industry Association (PLASTICS) has released “Retail Sales off to a Good Start in 2023?,” an economic analysis of January retail sales and the impact on the plastic industry, authored by Chief Economist Dr. Perc Pineda.
Dr. Pineda writes: “If the economy continues to stay strong, and consumers remain engaged, plastic product shipments could increase as plastics and plastic products are part of household consumption. However, with the U.S. economic outlook continuing to evolve, a single data point does not reflect an underlying growth momentum in the economy. The U.S. economy is adjusting from a robust 5.9% post-COVID-19 growth rate in 2021 to long-run sustainable growth.”
The Plastics Industry Association (PLASTICS) is the only organization that supports the entire plastics supply chain, including Equipment Suppliers, Material Suppliers, Processors, and Recyclers, representing over one million workers in our $468 billion U.S. industry. PLASTICS advances the priorities of our members who are dedicated to investing in technologies that improve capabilities and advances in recycling and sustainability and providing essential products that allow for the protection and safety of our lives. Since 1937, PLASTICS has been working to make its members, and the sixth largest U.S. manufacturing industry, more globally competitive while supporting circularity through educational initiatives, industry-leading insights and events, convening opportunities and policy advocacy, including the largest plastics trade show in the Americas, NPE2024: The Plastics Show.
Posted: February 23, 2023
Source: The Plastics Industry Association (PLASTICS)