Corrugated box sales are widely recognized as a leading economic indicator, signaling trends in consumer spending, manufacturing activity, and broader economic growth or contraction.
So far, Q3 earnings, not looking great in the North American market
$PKG: Corrugated products shipments, their legacy business, was down 2.7% per shipping day YoY in North America
$IP: Q3 corrugated box shipments up a modest 1% YoY in September (North America) and early October, but full year 2025 guidance was revised downward (now expected box volumes down - 1%–1.5% vs. previous forecast of up +1%–1.5%)
$SW: Correguated box sales in North America declined by 8.7% YoY
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