PMA Business Conditions Report Reveals Optimism WaningJuly 20, 2020
Metal forming-company executives are less optimistic about business conditions during the next three months than they were in June, according to the July 2020 Precision Metalforming Association (PMA) Business Conditions Report. Prepared monthly, the report provides an economic indicator for manufacturing, sampling 113 metal forming companies in the United States and Canada.
PMA’s July report shows that 62 percent of metal forming companies predict no change or a decline in economic activity, compared to 47 percent in June, and only 38 percent predict an improvement of economic activity, compared to 53 percent in June.
Executives forecast little change in incoming orders in July, with 52 percent of participants expecting an increase in orders compared to three months ago (a decrease from 57 percent in June), 28 percent anticipating no change in orders (compared to 24 percent in June), and 20 percent predicting a decrease in orders (compared to 19 percent last month).
See also: Precision Metalforming Association
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