According to the data of the Fiber Box Association, the shipments of cardboard boxes in the United States fell by 8.4% in the fourth quarter of last year, the largest quarterly decline since the second quarter of 2009.

Although cardboard boxes seem to be inconspicuous, they can appear in almost every link of the commodity supply chain, which makes this packaging product a key barometer to measure the economic health. Whether it is e-commerce or shipping bulk goods to stores, cardboard boxes are indispensable.

With high inflation and high interest rates beginning to affect consumers’ consumption habits, demand for cardboard boxes has declined. In the past four months, retail sales in the United States have declined in three months, in sharp contrast to the previous holiday consumption season.

The Carton Association said that as the demand for cartons fell, the operating rate of carton manufacturers also decreased.

In the fourth quarter of last year, the operating rate of carton manufacturers fell to 80.9%, the lowest level since the first quarter of 2009. In other words, about 20% of the carton capacity in the United States is at a standstill.