MH Daily Bulletin: September 28

September 28, 2022 • Posted in Daily Bulletin

News relevant to the plastics industry:

At M. Holland

Supply

Supply Chain

Tesla Hasn't Conquered the World

Domestic Markets

United States New Home Sales

International Markets

  • New data shows COVID-19 cases rose 30% in Britain last week following several weeks of declines.
  • Japan’s struggle against the Omicron variant of COVID-19 has led to up to 90% herd immunity in major cities.
  • Morgan Stanley joined other major investment banks in predicting China will likely ease COVID-19 restrictions and reopen the country by spring next year. 
  • The Bank of England intervened to support sterling after the U.K.’s new government announced new spending plans and tax cuts, which plunged the nation’s currency to a record low against the dollar. 
  • JPMorgan analysts raised Mexico’s GDP growth forecast this quarter after August trade data signaled stronger-than-expected output from the country’s manufacturing sector.
  • Economists surveyed by Bloomberg expect China’s GDP expansion to slow to just 3.4% this year, the slowest pace in more than four decades, excluding 2020.
  • British supermarket prices rose 5.7% in September from a year ago, hitting the highest level since records began in 2005.
  • Brazil’s consumer prices fell 0.37% the past month, extending their downward trend on sharply lower fuel costs.
  • Morocco raised its key interest rate for the first time since 2008 this week in a bid to tackle decades-high inflation, becoming the latest African nation to reverse years of gradual monetary easing. 
  • The number of Russians entering the EU jumped 30% in a week following new enlistment orders by Moscow.
Thousands of Russians Head to Finland after Military Call-up
  • Canada’s BlackBerry reported a 7.5% fall in annual cybersecurity revenue as customers reined in spending due to economic uncertainty.

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