NAM: Manufacturing (CONT’D FROM PAGE 4)
Box Shipments ( U.S. Corrugated Product Shipments) Industry Shipments In Billions of Square Feet Month December 2021
Nonfarm payroll employment increased by 678,000 in February, and the unemployment rate dropped to 3.8 percent. The labor force participation rate inched up from 62.2 percent to 62.3, the best since March 2020, although it remained below the pre-pandemic pace (63.3 percent). The U.S. goods trade deficit jumped to a record $107.63 billion in January in preliminary data. In January, goods ex- ports decreased from $157.62 billion to $154.83 billion. At the same time, goods imports soared from $258.09 billion In his semiannual Congressional testimony last week, Federal Reserve Chair Pro Tempore Jerome H. Powell re- iterated that the Federal Open Market Committee would likely raise short-term interest rates by 25 basis points at its March 15–16 meeting, rolling back its highly accommo- dative stance over the course of the coming months. Russian Invasion Of Ukraine The Russian invasion in Ukraine poses challenges to the Federal Reserve’s plans, creating new uncertainties in the marketplace, exacerbating inflationary pressures and dampening global growth. Although much will depend on what happens over the coming days and weeks, commod- ity prices—especially for food and energy—have already jumped significantly. Visit nam.org for more information. to $262.46 billion, an all-time high. A Rise in Short-Term Interest Rates
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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March 14, 2022
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