Rosensweig Provides PPC Members With Economic Market Update For the past few months, the Paperboard Packaging Council (PPC) has made it a top priority to get its members the information and resources they need to survive—and even thrive—during COVID-19. Back in June, it shared an economic out- look from renowned economist and Emory University professor, Jeff Rosensweig, on the future for the paperboard market. What has changed in the last three months? Here are insights from his latest forecast: The U.S. Economy: Hope On The Horizon In his last presentation to PPC, Jeff forecast a slow re- turn to normal. Yet in promising news, the latest statistics show more recovery than first expected. As essential businesses, paperboard manufacturers have been fortunate enough to avoid much of the impact of COVID-19. Other industries faired much worse. Leisure and hospitality were hit the hardest, citing over 7.5 million lost jobs in April, while others like retail trade, health care, and construction were greatly affected. That being said, all of these industries have seen positive job growth from May through July. Jeff Rosensweig
Concurrently, the spike in unemployment claims has started seeing greater declines. While continued claims have decreased since May, pandemic unemployment as- sistance finally saw a more sustained downturn in early July. Both of these signs suggest that people are getting their jobs back, meaning that the depression only lasted for two months. Along with trends, there has been an increase in hous- ing starts. More ground is being laid for businesses, but not necessarily for in-house operations. E-commerce con- tinues to skyrocket during the pandemic, and companies will need more space to house goods to fulfill shipments. Canada Leads The North American Outlook Canada experienced a smaller impact from COVID, with fewer deaths and less economic strain than the Unit- ed States. This gives them a head start for rebounding from the pandemic, and they are expected to have a high- er GDP than the U.S. through 2024. Mexico, on the other hand, took a hard hit from COVID-19. They are expected to spend most of 2021 re- building from the effects of the pandemic but will begin to There is much contention over the 2020 election, which begs the question, what we can expect from a Biden presi- dency? Due to more liberal policies, we would likely see a lot more spending from a Biden administration, especially gain more traction in the following years. What to Expect From A Biden Presidency
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