CFOs to Discuss ways to Increase Profitability, Manage FinancesJuly 1, 2014
The outlook for manufacturing growth is positive, and financial leaders of companies have an opportunity to be part of the pulse at PMA’s CFO Roundtable this summer.
Recent industry data show that manufacturing is expanding at a healthy pace. The Institute for Supply Management’s May manufacturing index reads 55.4, up from 53.2 (any reading above 50 indicates expansion). Measures for production (from 55.1 to 61) and orders (56.9 from 55.1) also surged from April.
PMA manufacturing member companies are experiencing growth as well. According to PMA’s April Monthly Orders and Shipments Report, the typical member realized eight-percent higher shipments in Q-1 of 2014 vs. 2013, with 10 percent growth in March vs. February.
PMA’s May Business Conditions Report also showed a sense of optimism, with 93 percent of metalforming companies expecting a positive general economic outlook for the next three months. This is consistent with the April PMI reading of 54.9 percent for manufacturing (up 1.2 percent from the prior month). The April PMI report also noted that two of the largest consuming markets for metal parts and components—transportation equipment and fabricated metal products—ranked as the sixth and seventh most positive manufacturing sectors of the 17 sectors tracked.
Chief financial officers (CFOs) can be a part of the pulse by participating in an invaluable session on manufacturing this summer at PMA’s CFO Roundtable, slated for August 12-13. Join PMA President Bill Gaskin for an opportunity to exchange ideas with peers in the metalforming industry.
CFO Roundtable participants will benefit by discovering how others are effectively managing their company’s finances, learning innovative s to increase company profitability, and networking with industry peers to develop professional relationships.Sign up for CFO Roundtable online at www.pma.org/meetings or by contacting Marianne Sichi (216-901-8800, email@example.com).
See also: Precision Metalforming Association
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