PlasticsToday recently ran an article by Norbert Sparrow on what NPE’s already record-breaking participation may signal for the Plastics industry, and what impacts we may see from the growing economy and impending trade tariffs. Mark Bonifacio provided some insights in the article. Here’s an excerpt:
“Since its inception in 1946, NPE has unfolded under all manner of economic cycles—the good, the bad and the meh. During a webinar on the state of the plastics industry near the end of last year, Perc Pineda, Chief Economist for the Plastics Industry Association (PLASTICS; Washington, DC), forecast a robust 2018 for the economy at large and the plastics industry specifically. Improving economic conditions and strong fundamentals domestically will result in a ninth straight year of expansion for the plastics industry, said Pineda. “I don’t see any headwinds in the next 12 months,” he added. In a rare instance of what has been called “global synchronous growth,” the international outlook appeared equally promising for 2018. Those forecasts came before President Trump made good on his campaign promise to get tough on trade, slapping tariffs on imported steel and aluminum and engaging in a (thus far, rhetorical) trade tiff with China. In light of these developments, and the NAFTA negotiations that seem to be stuck in neutral, I wondered if Pineda had any second thoughts. Not in the least, he told PlasticsToday. I also posed the question to folks in the industry. While all expressed some concerns, the consensus is that, ultimately, cooler heads will prevail and the economy, along with the plastics industry, will keep humming along.”