Board Converting News, April 11, 2022

ISM: Manufacturing (CONT’D FROM PAGE 6)

Box Shipments ( U.S. Corrugated Product Shipments) Industry Shipments In Billions of Square Feet Month December 2021

points higher than the 52.9 percent recorded in February. The Supplier Deliveries Index registered 65.4 percent, a decrease of 0.7 percentage point compared to the Febru- ary figure of 66.1 percent. The Inventories Index registered 55.5 percent, 1.9 percentage points higher than the Feb- ruary reading of 53.6 percent. The New Export Orders In- dex reading of 53.2 percent is down 3.9 percentage points compared to February’s figure of 57.1 percent. The Imports Index registered 51.8 percent, a 3.6 percentage point de- crease from the February reading of 55.4 percent. “The U.S. manufacturing sector remains in a de- mand-driven, supply chain-constrained environment. In March, progress was made to solve the labor shortage problems at all tiers of the supply chain, which will result in improved factory throughput and supplier deliveries. Pan- elists reported lower rates of quits and early retirements compared to previous months, as well as improving in- ternal and supplier labor positions. March brought back increasing rates of price expansion, due primarily to insta- bility in global energy markets. Suppliers are not waiting to experience the full impacts of price increases before ne- gotiating with their customers. Panel sentiment remained strongly optimistic regarding demand, with six positive growth comments for every cautious comment, down from February’s ratio of 12-to-1. Demand expanded, with the (1)

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

CONTINUED ON PAGE 10

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April 11, 2022

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