Index measuring total production of plastics products in US up 0.5 points to 93.5 in February from January reading, with total output showing 4% growth, Federal Reserve Board reports; total output of plastics parts forecast to grow 5%/year in 2014
DETROIT , April 24, 2014 (Plastics News (CBNB Abstracts)) – The Federal Reserve Board reports that in the US, the index measuring total production of plastics products increased 0.5 points to 93.5 in Feb 2014 from the Jan 2014 reading. Total plastics products output to date shows 4% growth. Although the severe winter conditions stalled recovery in 1Q 2014, the 4% growth shows solid performance for the industry. It is forecasted that the total output of plastics parts would grow 5%/y in 2014. End markets including automotive, medical, and packaging are expected to record solid gains in 2014. Consumer spending should be monitored closely by processors.