ISM-Chicago manufacturing survey bodes well for US plastics - ACC

30 July 2010 20:37  [Source: ICIS news]

HOUSTON (ICIS)--A survey showing improved business conditions for manufacturers in the US midwest could be a very positive indicator for the US plastics industry, the American Chemistry Council (ACC) said on Friday.

The Chicago Business Barometer survey – conducted by the Institute for Supply Management (ISM) in Chicago – rose 3.2 points to 62.3 in July, marking the 10th consecutive month of growth. Any reading above 50 signals economic expansion, according to the ISM.

The ACC noted that Chicago was a geographical focus for plastics processing.

“Plastic resins sales correlate well with this index, and the report was very positive for the industry,” the ACC said.

All seven of the survey’s indexes were positive, with five of the seven improved in July from June levels.

Specifically, new orders, order backlogs, production, inventories and employment all moved upward from June, the ISM reported.

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By: Ben DuBose
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