With a reading of 48.4, Gardner's Plastics Processors Business Index contracted at a slightly faster rate in June than May—and for the third time in four months. June was the lowest level for the index since August 2013. Except for a brief spurt of accelerating growth from November 2014 to January 2015, the overall index has trended down (not necessarily contracted) at a fairly consistent rate since March 2014. New orders increased somewhat in June. However, the overall trend here has been down since March 2014. Production expanded for 30th month in a row. However, the rate of increase has slowed dramatically since January. Generally, production has been stronger than new orders. Therefore, the backlog has contracted every month but one since April 2014. In 2015, the backlog has trended down sharply, indicating a significant decline in capacity utilization among processors. Employment contracted for the first time since August 2013. Exports contracted for the sixth straight month. Supplier deliveries continued to lengthen.
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