NAM: Manufacturing Rebounds (CONT’D FROM PAGE 6)
Box Shipments ( U.S. Corrugated Product Shipments) Industry Shipments In Billions of Square Feet Month June 2020
facturing jobs in June. Other states with notable employ- ment growth for the month included Ohio, Kentucky, Cal- ifornia, Illinois and Indiana. Even with better data in May and June, however, there continue to be sizable declines in manufacturing employment due to COVID-19. Consumer spending at retailers rose 7.5 percent in June, extending the robust 18.2 percent gain in May. This suggests that Americans have continued to return to stores to make purchases after stay-at-home orders sent sales plummeting. With that said, the July data will be closely watched, as further expansion of the COVID-19 vi- rus has led to renewed restrictions and closures in some areas of the country, which could lead to reduced de- mand and increased hesitance for many consumers. Along those lines, consumer confidence dipped in July as Americans “reassess the likely economic impact from the coronavirus on their personal finances and on the overall economy.” Consumer prices jumped 0.6 percent in June, led by higher prices for energy and food. Excluding food and energy, consumer prices increased 0.2 percent for the month. Overall, even with higher consumer costs in June, the data continue to reflect deflationary effects due to the COVID-19 outbreak and a global recession. Core inflation has risen 1.2 percent since June 2019, the same rate as in May and remaining the lowest since March 2011.
Year
Actual
Percent Change Avg Week Percent Change
2020 2019
34.392 31.916
7.8
7.816 7.979
-2.0
Industry Total
Year-to Date
June 2020
Year
Actual
Percent Change Avg Week Percent Change
2020 2019
196.619 193.934
1.4
7.741 7.696
0.6
Industry Total
Containerboard Consumption (Thousands of Tons)
Year
Month
Percent Change Year-to-Date Percent Change
2020 2019
2.8208 2.6371
7.0
16.1361 15.9772
1.0
Container Board Inventory - Corrugator Plants (Thousands of Tons)
Corrugator Plants Only
Date
Percent Change Weeks of Supply
Percent Change
Jun. May
2.0865 2.3246
-10.2
3.3 3.8
-13.2
Shipping Days
Year
Month
Year-to-Date
2020 2019
22 20
127 126
SOURCE: Fibre Box Association
8
www.boardconvertingnews.com
July 27, 2020
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