The shipments value of primary plastics machinery shipments in North America decreased marginally in the third quarter, according the statistics from the Plastics Industry Association’s (PLASTICS) Committee on Equipment Statistics.
The preliminary estimate of shipments value from reporting companies totalled $293.7 million, and following an 8.2 per cent increase in the second quarter, plastics machinery shipments fell by 0.5 per cent in the third quarter.
While total shipments decreased, extrusion machinery increased in the third quarter.
Single and twin-screw extruder shipments rose 5.3 per cent and 13.9 per cent respectively, while the shipments of injection moulding fell 1.9 per cent.
Perc Pineda, Chief Economist at PLASTICS, said: “The plastics industry is a mature industry and its growth will continue to track GDP. The third quarter number moving sideways are in sync with weaker manufacturing activity in the economy this year.”
“In Plastics Quarterly, our GDP growth forecast for the second and third quarters were 2.0 per cent and 1.9 per cent respectively, and that’s what we got. The machinery shipment numbers were in sync with weaker manufacturing activity against the backdrop of an economy that moved sideways.”