The drop in plastics activity appears to be driven by a return to accelerated contraction for three closely connected components — new orders, production and backlog.
The Gardner Business Index for plastics processing activity jumped a bit in October, though it still contracted as it has since July 2022.
September’s survey results mark a third month of a very similar GBI.
Monthly index indicates overall plastics processing activity stayed on its path of contraction.
All components dip as index hits low point of 2023.
But the good news is that June’s results were nearly a point above May’s.
Contraction dominated the GBI index for overall plastics processing activity and almost all components, collectively suggesting a slowdown.
Despite some index components accelerating and others leveling off, April spelled contraction for overall plastics processing activity.
Processing activity contracted for the ninth straight month, and at a faster rate.
The month proved to not be all dark, cold, and gloomy after all, at least when it comes to processing activity.
Despite contracting again in January, plastics processing activity rebounded a bit from a rather significant drop in December.
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