Metalforming manufacturing companies expect little change in business conditions during the next three months, according to the April 2018 Precision Metalforming Association (PMA) Business Conditions Report. Prepared monthly, the report is an economic indicator for manufacturing, sampling nearly 125 metalforming companies in North America.
The April report shows that 42% of participants forecast an improvement in economic activity during the next three months (compared to 49% in March), 52% expect no change (up from 45% last month) and 6% anticipate a decline in activity (staying the same as in March).
Metalforming companies also anticipate steady incoming orders during the next three months, with 46% predicting an increase in orders (compared to 54% in March), 47% expecting no change in orders (compared to 39% in March), and 7% forecasting a decrease in orders (staying the same as in March).
Current average daily shipping levels dipped in April. Fifty percent of participants report that shipping levels are above the levels of three months ago (up from 47% in March), 38% report that levels are the same (down from 39% the previous month), and 12% report a decrease in shipping levels (down from 14% in February).
The percentage of metalforming companies with a portion of their workforce on short time or layoff dropped to 2% in April, down from 3% in March. This figure is much better than during April 2017, when 6% of companies reported workers on short time or layoff.
The monthly Business Conditions Report has been conducted by PMA since 1979. Full report results are available. PMA is the full-service trade association representing the $137-billion metalforming industry of North America—the industry that creates precision metal products using stamping, fabricating, spinning, slide forming and roll forming technologies, and other value-added processes. Its nearly 800 member companies also include suppliers of equipment, materials and services to the industry. PMA leads companies toward superior competitiveness and profitability through advocacy, networking, statistics, the PMA Educational Foundation, FABTECH and METALFORM Mexico tradeshows, and MetalForming, Fabricating Product News and 3D Metal Printing magazines.
Contact: Christie Carmigiano
Precision Metalforming Association
216-503-5716
ccarmigiano@pma.org