A number of consumer-facing companies have pointed to intensifying spending weakness during Q2 earnings season.

The 3rd-largest North American containerboard and box producer, Packaging Corp. of America, reported an eye-opening 10% box shipment decline.

General Mills, Conagra and other branded packaged food companies continue to experience substantial volume declines, but the explanations differ by company.

Heavy usage of financing tools among S&P 500 companies is boosting free cash flow but comes with significant risks to investors and the economy.

Ongoing retailer destocking/inventory reductions and the shift to cheaper private-label brands are posing problems for branded packaged food companies.

Goods demand has dried up, specifically purchases of big-ticket discretionary items such as furniture and appliances.

FreightWaves calculated about $80 billion of supply chain financing among S&P 500 companies as of Q1, with more companies yet to provide disclosures.

The two largest home improvement retailers cut their full-year sales guidance in Q1, a rarity; many other retailers also pointed to intensifying pressure on Americans’ ability to spend money as the year has progressed.

U.S. box demand, which has experienced historic declines in the past two quarters, remains unusually weak in Q2 from all indications.

Packaging industry volumes remain historically weak in Q1, with destocking a recurring theme; when will it end?

Companies expecting a near-term demand recovery might be well served to read Visa’s Q1 earnings call transcript.

U.S. box shipments are declining at their fastest rate since the worst of the Great Financial Crisis, with trends having deteriorated as the first quarter progressed, according to the third-largest North American containerboard producer.

A large European pulp and paper company issued a profit warning as “the whole packaging market is currently weakening.”

A large European paperboard and pulp producer warns of deteriorating demand in another sign of intensifying global economic weakness.

Costco’s sales report for March is evidence that U.S. consumers are spending their money on essential items and not discretionary ones.

Corrugated box demand is tracking below 2022 levels – which was a poor year for the industry. Meanwhile, many companies’ costs remain elevated.

One key trucking demand metric has been in decline for seven straight months, and more cuts in federal benefits could further challenge volumes.