Tuesday, March 23, 2010

Possibly the Best Signal for Economic Recovery

Some economic indicators suggest the worst of the Great Recession is behind us, but Jim Cory at Pax Corrugated Products, isn't seeing any signs of recovery.

"We're still waiting to see it get better," said Cory, president of the privately held custom box and point of purchase display maker that employs 53 in Lebanon. Last year, business was down and Cory said his company isn't seeing many indications of improvement this year.

"Demand is flat, as industry box shipments are down," he said. Year-to-year shipments were down about four percent in January, he said, according to industry data.

Corrugated box shipments have long been viewed as a leading economic indicator, favored by no less than former Fed Chairman Alan Greenspan. Virtually all manufactured products from raw materials to finished goods are put in a box for delivery as some point. So demand for corrugated boxes is an early sign of the economy's direction, according to advocates. (more)

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