MH Daily Bulletin: March 1

March 1, 2023 • Posted in Daily Bulletin

News relevant to the plastics industry:

At M. Holland

  • Plastics News named M. Holland among the Best Places to Work for 2023! This marks the company’s sixth consecutive year receiving this award. Congratulations to all 22 finalists this year!


Supply Chain

Domestic Markets

  • U.S. wholesale inventories fell by 0.4% from December to January, the first decline since July 2020:
United States Wholesale Inventories
United States Goods Trade Balance

International Markets

  • Inflation in France and Spain unexpectedly rose this month, pushing up EU rate-hike expectations.
  • The Caixin/S&P index of China’s manufacturing activity rose to 51.6 in February from 49.2 the previous month, the first increase in the sector since last July. The official government PMI was even higher at 52.6, which would mark the fastest growth in a decade.
China Caixin Manufacturing PMI
  • The U.K. and EU agreed on a new trading arrangement for Northern Ireland to alleviate post-Brexit friction over cross-border trade rules.
  • South Korea’s export slump deepened by 15.9% in February.
  • Canada’s economy was flat in the final three months of 2022, massively underperforming expectations.
  • India’s economic growth slowed to a 4.4% pace in the fourth quarter amid weakness in the manufacturing sector.
  • U.S. offices are just 40% to 60% occupied compared to their pre-pandemic levels amid a shift to remote work, while occupancy levels in Europe and Asia have reached 70%-90% and 80%-110%, respectively.
  • The death toll from recent earthquakes in Turkey and Syria is up to 51,000.

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