MH Daily Bulletin: June 13

June 13, 2022 • Posted in Daily Bulletin

News relevant to the plastics industry:

At M. Holland

  • M. Holland’s 3D Printing group offers a rapid response alternative for producing selected parts where resin availability is tight. For more information, email our 3D Printing team.
  • Market Expertise: M. Holland offers a host of resources to clients, prospects and suppliers across nine strategic markets.

Supply

Supply Chain

Ship Jam in the North Sea

Domestic Markets

United States Michigan Consumer Sentiment
  • Electricity prices in the U.S. jumped 12% in May, adding an extra $540 to the average American utility cost between June and August, up $90 from last year.
  • Average hourly earnings for U.S. employees declined an annual 3% in May after factoring in inflation, the Labor Department said. 
  • The S&P 500 is down 18% in 2022, its worst start to a year since 1962. 
  • The median U.S. rent rose 15% in May from a year ago, surpassing $2,000 for the first time. 
  • U.S. household wealth fell for the first time in two years in Q1, dropping $500 billion as stock market losses outweighed gains in home values. 
  • U.S. luxury home sales plunged 17.8% in the first quarter compared to a year ago, according to Redfin. 
  • The tight labor market in the U.S. could be a windfall for M.B.A students, with some employers offering interns full-time jobs even before they start taking their final year of classes. 
  • Pilot shortages, high fuel prices and surging demand will cause major disruptions to airlines this summer. A shortage of airport parking is also causing headaches for flyers. 
  • A major shift is occurring in the $155 billion U.S. database industry, with Oracle’s four-decade dominance slipping as a spate of new low-cost offerings enter the market. 
  • “Jurassic World Dominion” delivered the third $100+ million opening weekend in six weeks, a promising sign for the U.S. theater industry. 
  • The U.S. government will foot the full bill for New Mexico’s wildfire response, officials said. 
  • U.S. commercial electric truck maker Electric Last Mile Solutions announced it would file for Chapter 7 bankruptcy, just one year after the company went public. 

International Markets

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