PMA Business Condition Report: Metal Formers OptimisticFebruary 27, 2023
Metal forming companies anticipate an improvement in economic activity in the next three months, according to the February 2023 Precision Metalforming Association (PMA) Business Conditions Report. Of those surveyed, 18 percent predict an increase in general economic activity, up from 11 percent in January, while only 19 percent anticipate a decrease in activity, down notably from 30 percent in January. In addition, 38 percent expect an increase in incoming orders, compared to 25 percent in January, while 22 percent predict a decrease in orders, down from 26 percent in January. And, following four straight months of decline, metal forming companies report a spike in current average daily shipping levels in February, with 30 percent reporting an increase in shipping levels, up from 15 percent in January, while only 25 percent report a decrease, down from 43 percent in January.
“The report shows that members are optimistic that the economy is improving, yet the monthly swings between optimism and concern reflected in these reports underscore the volatility of the market,” says PMA President David Klotz. “I’m looking forward to hearing more from our members about current market conditions during PMA’s Forming Our Future Leadership Conference this week.”
See also: Precision Metalforming Association
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