Despite Supply-Chain Challenges, Metal Formers’ Optimism Increases
January 31, 2022Comments
Metal forming companies express increased optimism for improved business conditions during the first quarter of the year, according to the January 2022 Precision Metalforming Association (PMA) Business Conditions Report. PMA’s January report shows that 37 percent of metal forming companies anticipate an increase in general economic activity in the next three months (up from 27 percent in December), while only seven percent predict a decrease in activity (down from 16 percent in December.
Forty-six percent of respondents reported an increase in lead times, down from 50 percent in December.
“‘Perseverance’ is a word that defines PMA members,” says PMA president David Klotz. “Despite the challenges of raw-material shortages, supply-chain disruptions, workforce-retention issues and, of course, a global pandemic, our members continue to manufacture the products and parts needed to keep the economy moving. Members are beginning the year with optimism for our industry and the economy. Hopefully, our elected leaders in Washington, D.C., will enact policies that grow our manufacturing base and help our members continue to provide jobs and economic benefits to local communities across the country.”
Metal formers also forecast an improvement in incoming orders during the next three months, with 43 percent expecting an increase in orders (compared to 34 percent in December) and only 12 percent anticipating a decrease in orders (compared to 17 percent in December).
See also: Precision Metalforming Association
Technologies: Management
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