October Business Conditions: More Metal Formers Predict an Increase in Activity Compared to SeptemberOctober 20, 2022
The October 2022 Precision Metalforming Association (PMA) Business Conditions Report reveals that while 35 percent of metal forming companies anticipate a decrease in general economic activity in the next three months, compared to 29 percent in September, 15 percent predict an increase in activity, up from 11 percent last month. The report also shows that 18 percent of survey respondents forecast an increase in incoming orders during the next three months, down slightly compared to 19 percent in September, while 39 percent anticipate a decrease in orders, compared to 27 percent in September.
“The October report reflects the current volatility in manufacturing and the wider economy,” says PMA President David Klotz. “During my visits to PMA members across the country over the past couple of months, while some companies certainly reported challenges, other companies tell me that their businesses continue going strong.”
See also: Precision Metalforming Association