Metal Formers Optimistic that Economic Activity Will Stabilize
November 29, 2023Comments
Metal forming companies expect to see less volatility in business conditions in the coming months, according to the November 2023 Precision Metalforming Association (PMA) Business Conditions Report. Nearly half (49 percent) of surveyed companies expect no change in general economic activity in the next three months in (compared to 36 percent in October), while 42 percent predict a decrease in activity (compared to 54 percent in October) and 9 percent forecast an increase in activity (down from 10 percent last month).
Metal formers also anticipate that incoming orders will stabilize, with 45 percent expecting no change in orders during the next three months (compared to 35 percent in October), 38 percent predicting a decrease in orders (down from 48 percent in October) and 17 percent forecasting an increase in orders (the same as reported last month).
“The November Business Conditions Report reflects PMA members’ optimism that the end of the United Auto Workers (UAW) labor strike will mean more stability in the sector,” says PMA President David Klotz. “The latest report shows that most respondents now predict no change or an improvement in business activity after two months of predicting declines. With the UAW strike settled, Congress avoiding a shutdown, and the United States and European Union avoiding, at least for now, a metals trade war, metal formers now predict greater economic stability, allowing them to ramp up order deliveries.”
See also: Precision Metalforming Association
Technologies: Management
