U.S. plastics machinery shipments in Q2 2008 down 12 per cent from last year: SPI

U.S. manufacturers and importers of primary plastics machinery and equipment shipped $195 million worth of primary machinery (excluding components and auxiliary equipment) in the second quarter of 2008, a 12 per cent decrease from the amount shipped in the second quarter of 2007, according to the statistics released by the Society of the Plastics Industry, Inc. (SPI) Committee on Equipment Statistics (CES).

Also, new industrial equipment investment is expected to grow four per cent in 2009, the report forecast.

“The growth rate in the equipment spending data will stay moderately negative for the remainder of this year, but then investment is expected to rebound in 2009,” said Bill Wood, an economist who provided the analysis for SPI’s report. “For 2008, the forecast calls for a two per cent decline in real total investment for new industrial equipment when compared with 2007. In 2009, the growth will be a positive four per cent.”

According to the report, there were 21 new blow molding machinery units shipped in the second quarter of 2008 – four fewer than were shipped in the second quarter of 2007. The shipments dollar value for these machines in the second quarter is 39 per cent less than the amount shipped in the second quarter of last year.

Also, the number of injection molding machinery units shipped in the second quarter of 2008 decreased seven per cent from the number shipped in the second quarter last year, but is four per cent higher than the number of units shipped in the first quarter of 2008.

Additionally, the report noted that the number of extrusion (combined single and twin screw) machinery units shipped in the second quarter of 2008 decreased 24 per cent from the number shipped in the second quarter of 2007, and is 15 per cent less than the number shipped in the first quarter of 2008.

Auxiliary equipment bookings totaled $78.9 million in the second quarter of 2008, a three per cent decrease when compared with the amount booked in the second quarter of a year ago, and five per cent less than the amount booked in the first quarter of 2008.

The report can be found online at SPI’s Plastics Industry Store. The cost is free for members. Nonmembers can purchase the reports at a cost of $580 for the Annual Report (includes the fourth quarter report) or $250 for an individual quarterly report.

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