NAM: CPI Rises (CONT’D FROM PAGE 6)
Box Shipments ( U.S. Corrugated Product Shipments) Industry Shipments In Billions of Square Feet Month March 2022
The Index of Consumer Sentiment plummeted from 58.4 in May to 50.2 in June, the lowest reading on record. Americans continued to worry about inflation, with uncer- tainties related to the Russian invasion of Ukraine. This survey is highly correlated with gasoline prices, and with that measure hitting all-time highs, it should not be a sur- prise that consumer confidence continues to fall. That said, consumer spending has been largely resil- ient and in April, U.S. consumer credit outstanding jumped 10.1 percent at the annual rate. Revolving credit, which in- cludes credit cards and other credit lines, soared 19.6 per- cent in April. Americans dramatically increased their will- ingness to take on new debt. Overall, U.S. consumer credit outstanding has risen 7.5 percent over the past year, the strongest year-over-year reading since November 2011. The week ending June 4 saw 229,000 initial unem- ployment claims, the highest since the week ending Jan. 15. These data have gradually trended higher since reach- ing 166,000 claims in March, which was the second-lowest reading in the history of the series and the lowest since Nov. 1968. Even with initial claims accelerating over the past three months, the data continue to reflect progress over the past year. At the same time, the week ending May 28 saw 1,306,000 continuing claims, the same pace as in the prior week and remaining the lowest level since the week ending Dec. 27, 1969.
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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