Business Conditions Improving as Incoming Orders Expected to IncreaseJanuary 21, 2021
The January 2021 Precision Metalforming Association (PMA) Business Conditions Report finds that metal forming-company executives remain optimistic that business conditions will improve during the next three months. The report finds that 39 percent of those surveyed expect economic activity to improve, compared to 34 percent in the December report; only 7 percent anticipate a decline in activity, compared to 17 percent in December.
The survey also reveals that 50 percent of metal formers are forecasting an increase in orders during the next three months, compared to 41 percent in December; only 9 percent anticipate a decrease in orders, compared to 20 percent in December.
Says PMA President David Klotz: “While members express optimism that business conditions will improve, great challenges remain, including the current record-high prices for steel and supply-chain problems causing low steel inventories as supply tightens. PMA calls on the Biden administration to terminate the Section 232 steel and aluminum tariffs as quickly as possible.”
See also: Precision Metalforming Association