May’s Index comes in at 57.1 amid indications that processors are making longer-term investments to increase production capacity.
The Gardner Business Index (GBI): Plastics Processing came in at 57.1 for May, lower than April’s 58.1 reading. For the first five months of 2018, the Plastics Processing Index averaged 57.3, representing the fastest five-month period of growth in the Index’s history. The index is calculated based on monthly surveys sent to subscribers of Plastics Technology magazine.
The latest reading is up 2.3% from the same month a year ago. However, the reading from May 2017 was the highest reading in all of 2017. The latest result was driven higher by supplier deliveries, production, and new orders. Employment, backlog, and exports all pulled the index lower. All components of the index experienced growth during the month.