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May Report Shows Slight Decline Ahead for Metalformers

Thursday, May 31, 2018
 
Metalforming manufacturing companies expect a slight decline in business conditions during the next three months, according to the May 2018 Precision Metalforming Association (PMA) Business Conditions Report. Prepared monthly, the report is an economic indicator for manufacturing, sampling 112 metalforming companies in the United States and Canada.

The May report shows that 31 percent of participants forecast an improvement in economic activity during the next three months (down from 42 percent in the April report), 65 percent expect no change (up from 52 percent last month) and 4 percent anticipate a decline in activity (compared to April’s 6 percent).

“PMA members are feeling the pain of the Section 232 steel and aluminum tariffs, which already are having negative consequences for U.S. manufacturers,” says PMA President Roy Hardy.


 


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