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Market Forecast
Manufacturing sales edged up 0.3% in October, StatCan says
Manufacturing sales grew to $54.1 billion led by the paper, petroleum, and coal industries, and with 2.2% growth for plastic and rubber product manufacturers.
Recovery of Canada’s plastics, chemical industries will be based on investment attraction, CIAC head says
CIAC president and CEO Bob Masterson also outlined the chemistry and plastics industries’ role in Canada’s economic recovery in a presentation to the federal government’s Standing Finance Committee.
Global auto sales improve modestly again in October, report says
On a year-over-year basis, sales were in positive territory for a second consecutive month since the pandemic struck, Scotiabank’s latest Global Auto Report says.
Two-thirds of Canadian business owners negatively impacted by COVID-19: CIBC poll
But the majority (75%) of business owners remain optimistic they will rebound once the pandemic subsides, the poll also found.
North American primary plastics machinery shipments continue recovery in third quarter
Canada and Mexico remained the top export markets for U.S. equipment suppliers in the third quarter, according to the Plastics Industry Association’s committee on equipment statistics.
Demand from packaging and healthcare segments to help polyolefins market stay afloat amid COVID-19, report says
The global polyolefins market is expected to decline in 2020 due to weaker end-market demand, analytics firm GlobalData says, but there will be strong gains in these other sectors.
ATS Automation reports orders up in Q2 2021 results
In reporting its financial results for the three and six months ended September 27, 2020, the Cambridge, Ont.-based company cited a decrease in revenue of two per cent but an increase in order bookings.
U.S. plastics industry reports another year of trade surplus
Mexico and Canada remain the U.S. plastics industry’s largest export markets, the new report from the Plastics Industry Association says.
Both Biden and Trump victories present implications for Canada’s economy, new report says
The report from RSM Canada concludes that no matter the outcome of the U.S. presidential election, Canada’s recovery from wave two of the coronavirus pandemic and its longer-term outlook will be impacted.
What will the 2020 elections mean for U.S. energy?
Ten key issues to watch, according to global energy consultancy group Wood Mackenzie.
Bioplastics will need significant government intervention to realize full potential, report says
In order to achieve the scale needed to play a meaningful role, the report from Wood Mackenzie says, the bioplastics industry will require significant regulatory interventions from governments and substantial cost efficiencies as technologies mature and scale.
Industry consultant predicts 31% drop in North American tooling spend in 2020
Harbour Results says that the 2020 automotive vendor tooling spend in North America will be $6.4 billion, which is $.4 billion less than originally forecasted in 2019.
Canadian small business owners cautiously optimistic about the future, Scotiabank report says
Forty per cent of small business owners are either “very” or “extremely” optimistic about the future of their business, Scotiabank said.
Plastics industry 8th largest in U.S., new report says
The plastics industry is a key part of the American economy, the report from Plastics Industry Association said, accounting for an estimated $432 billion in shipments and over a million workers in 2019.
German firms Continental and Osram plan to end lighting systems joint venture
The companies said the move comes in response to the dampening influence of COVID-19 on the global level of vehicle production.
Retail sales rose 0.6% in July, Statistics Canada says
Sales were up in six of 11 subsectors in July with the motor vehicle and parts dealers subsector contributing the most to the increase.
Canadian auto sales’ rebound “softened modestly” in August, report says
In the U.S., meanwhile, auto sales posted a fourth month of recovery with August purchases increasing by 5% month-over-month, the new report from Scotiabank says.
North American plastics machinery shipments up in Q2, report says
The preliminary estimate of shipments value from reporting companies totaled a 4% increase over the first quarter of 2020, the Plastics Industry Association says, when shipments decreased 19.8% from the previous quarter.
Canadian economy posted record drop in Q2 due to COVID-19, StatCan says
The decline is the steepest since quarterly data were first recorded in 1961, with almost every single component of the economy that works into calculating GDP at its lowest point over April, May, and June.
Big majority of small business owners still worry about economy, survey finds
Also, sixty per cent of respondents to the latest Canadian Federation of Independent Business survey say they fear consumer spending will stay low even after the COVID-19 pandemic ends.
