MH Daily Bulletin: November 30

November 30, 2022 • Posted in Daily Bulletin

News relevant to the plastics industry:

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Supply Chain

Charging points and EV sales in selected countries

Domestic Markets

  • The U.S. reported 45,422 new COVID-19 infections and 393 virus fatalities Tuesday.
  • Around 90% of COVID-19 fatalities in the U.S. are among adults over age 65.
  • Only about 10% of the U.S. population has received an updated COVID-19 booster shot against the Omicron variant. 
  • U.S. consumer confidence slipped to a four-month low in November, according to The Conference Board research group.
  • More U.S. banks are tightening loan terms for large businesses and commercial real estate, a trend typically seen during recessions, according to the Federal Reserve.
  • A leading index of home prices fell for the third straight month in September, with prices up 10.4% from September 2022, the lowest year-over-year increase in over a year:
United States Case Shiller Home Price Index YoY
  • The nation’s housing market could slow for the next two years as higher borrowing costs dent demand, according to bankers.
  • The U.S. government will back mortgages of over $1 million in expensive parts of the country, boosting last year’s price ceiling to keep up with higher home prices.
  • Americans spent an average of $325 on holiday purchases over Thanksgiving break, up 8% from 2021, while a record 196.7 million shoppers made their purchases either online or in-store, according to the National Retail Federation.
  • Steep discounts from companies with excessive inventories are putting pressure on firms to discount big this holiday season even if they don’t need to.
  • AMC Networks plans to lay off one-fifth of its U.S. staff as the firm struggles to generate revenue amid the switch from cable to streaming.
  • Drugmaker Horizon Therapeutics is fielding takeover interest as large pharmaceutical companies compete for fast-growing medicines to fuel sales.

International Markets

Covid Cases Surge in China
  • COVID-19 infections are up 40% the past month in France.
  • Eurozone year-over-year inflation fell to 10% in November from 10.6% in October, the first decline since mid-2021, driven by lower energy costs. 
  • German consumer prices rose 11.3% year over year in November, cooling slightly from the month before but remaining near record highs.
Germany Inflation Rate

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