NAM: Solid Gains (CONT’D FROM PAGE 5)
Box Shipments ( U.S. Corrugated Product Shipments) Industry Shipments In Billions of Square Feet Month March 2022
Manufacturing production rose 0.8 percent in April, expanding strongly for the third straight month, with the headline index notching its best reading since July 2008. In addition, manufacturing capacity utilization jumped to 79.2 percent in April, the highest reading since April 2007. Overall, manufacturing production has risen 5.8 percent year-over-year, with 4.6 percent growth relative to Febru- ary 2020’s pre-pandemic pace. Retail sales grew 0.9 percent in April, buoyed by re- bounding motor vehicles and parts spending and solid growth in most categories of consumer activity. At the same time, gasoline station sales—which are expressed in nominal terms—fell 2.7 percent in April, pulling back some- what after jumping 9.6 percent in March. Retail spending has soared 8.2 percent year-over-year, consistent with the reopening of the economy and with pent-up demand. Consumer spending remains a bright spot, even as Americans cope with higher prices. Yet, there were also signs that economic growth was slowing, with higher interest rates dampening activity. Manufacturing surveys from the New York and Philadel- phia Federal Reserve Banks were both notably weaker. Kentucky created the most net new manufacturing jobs in April, adding 6,000 workers, with Florida generating 16,300 workers in the sector since February 2020, the greatest of any state since the pandemic.
Year
Actual
Percent Change Avg Week Percent Change
2022 2021
37.675 37.992
-0.8
8.190 8.259
-0.8
Industry Total
Year-to Date
March 2022
Year
Actual
Percent Change Avg Week Percent Change
2022 2021
102.648 102.938
-0.3
8.019 8.170
-1.8
Industry Total
Containerboard Consumption (Thousands of Tons)
Year
Month
Percent Change Year-to-Date Percent Change
2022 2021
3.1027 3.0967
0.2
8.4866 8.4625
0.3
Container Board Inventory - Corrugator Plants (Thousands of Tons)
Corrugator Plants Only
Date
Percent Change Weeks of Supply
Percent Change
Mar. Feb.
2.2693 2.3081
-1.7
3.4 3.5
-2.9
Shipping Days
Year
Month
Year-to-Date
2022 2021
23 23
64 63
SOURCE: Fibre Box Association
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May 30, 2022
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