November 2022 Business Conditions: Metal Formers Predict Challenging Next Three Months
November 21, 2022Comments
Metal forming companies forecast a downward trend in business conditions during the next three months, according to the November 2022 Precision Metalforming Association (PMA) Business Conditions Report. The report shows that 45 percent of metal forming companies anticipate a decrease in general economic activity in the next three months (compared to 35 percent in October), 50 percent expect no change in activity (the same percentage reported last month) and only 5 percent predict an increase in activity (compared to 15 percent in October).
However, a successful FABTECH, held earlier in November in Atlanta, GA, provides cause for optimism.
“(FABTECH) was sold out and went into overflow space, with brisk sales activity reported, indicating that we may see increased manufacturing activity beginning the first quarter of 2023,” says PMA President David Klotz.
See also: Precision Metalforming Association
Technologies: Management
