MH Daily Bulletin: December 13

December 13, 2022 • Posted in Daily Bulletin

News relevant to the plastics industry:

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Supply Chain

Domestic Markets

  • The U.S. reported 56,694 new COVID-19 infections and 212 virus fatalities Monday.
  • U.S. consumer prices in November rose a better-than-expected 0.1% over October and 7.1% from a year ago.
  • The November U.S. budget deficit jumped by $57 billion, or 30%, from a year earlier to a total of $249 billion, a record for the month:
United States Government Budget
Where Price Hikes Are Causing More Stress This Christmas
  • Average U.S. rent prices jumped about 14% from 2021 to 2022, including gains of as much as 22% in high-demand areas.
  • United Airlines placed a $30 billion order with Boeing for 100 787 Dreamliner jets with an option for 100 more, the largest order ever in the U.S. and a big win for Boeing over European rival Airbus. 
  • Lennar, one of the biggest U.S. homebuilders, has offered to sell thousands of homes to rental landlords as sales to everyday buyers plummet.
  • Goldman Sachs plans to cut several hundred more jobs from its loss-making retail banking operations.
  • Oracle saw quarterly revenue rise a better-than-expected 18.5% on strong demand for its cloud software.
  • The U.S. will add $325 million in funding to help smaller-scale farmers cut their greenhouse gas emissions, pushing the total investment in climate-friendly farming to over $3 billion.

International Markets

India Inflation Rate
  • The U.S., Japan and other nations kicked off negotiations aimed at setting economic rules and standards in the Indo-Pacific region.
  • Global private and public debt remained well above pre-pandemic levels in 2021 despite dropping substantially from 2020, according to the International Monetary Fund.
  • The U.S. plans to commit $55 billion to investment in Africa over the next three years.
  • Nestle will invest $42.88 million to launch a new production facility in western Ukraine, one of very few international companies to announce new investments in Ukraine since Russia invaded the country.
  • Spending by Americans in Europe rose more than 40% during Black Friday week compared to pre-pandemic levels as tourists took advantage of the strong U.S. dollar.
  • Microsoft purchased a 4% stake in the London Stock Exchange’s parent company as part of a deal to provide cloud services for its financial data and trading platforms.
  • Belgium will start taxing private jets and some short-haul flights to reduce noise and air pollution.

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