NAM: Manufacturing, Retail Spending Jump In January
Box Shipments ( U.S. Corrugated Product Shipments) Industry Shipments In Billions of Square Feet Month December 2021
Retail sales jumped 3.8 percent in January, rebounding from the 2.5 percent decline seen in December, accord- ing to Chad Moutray, Ph.D. and Chief Economist at the National Association of Manufacturers (NAM). This result suggests that Americans again opened their pocketbooks more willingly at the start of the new year after pulling back at year’s end. Retail spending soared 13.0 percent over the past 12 months, consistent with the opening of the econ- omy and with consumers who have been flush with cash. Manufacturing production rose 0.2 percent in January, rebounding slightly after edging down 0.1 percent in De- cember. Speaking to the softness of the latest data, man- ufacturers have been challenged by supply chain bottle- necks, workforce shortages, rising production costs and, more recently, the spread of the omicron variant. Nonetheless, manufacturing capacity utilization inched up from 77.2 percent in December to 77.3 percent in Jan- uary, matching the rate seen in November, which was the strongest reading since December 2018. Overall, man- ufacturing production has risen 2.5 percent year-over- year, with 2.0 percent growth relative to February 2020’s pre-pandemic pace. Meanwhile, total industrial production increased 1.4 percent in January, rising to the highest level since December 2018.
Year
Actual
Percent Change Avg Week Percent Change
2021 2020
34.195 34.916
-2.1
8.549 8.729
-2.1
Industry Total
Year-to Date
December 2021
Year
Actual
Percent Change Avg Week Percent Change
2021 2020
416.338 406.776
2.4
8.294 8.071
2.8
Industry Total
Containerboard Consumption (Thousands of Tons)
Year
Month
Percent Change Year-to-Date Percent Change
2021 2020
2.7372 2.7727
-1.3
33.8477 33.0739
2.3
Container Board Inventory - Corrugator Plants (Thousands of Tons)
Corrugator Plants Only
Date
Percent Change Weeks of Supply
Percent Change
Dec. Nov.
2.256 2.203
2.4
3.3 3.3
0
Shipping Days
Year
Month
Year-to-Date
2021 2020
20 20
251 252
SOURCE: Fibre Box Association
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February 28, 2022
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