PMA Business Conditions Report: Supply and Worker Shortages Challenge Metal FormersSeptember 21, 2021
Metal forming companies expect business conditions during the next three months to continue to prove challenging, according to the September 2021 Precision Metalforming Association (PMA) Business Conditions Report. The report shows that only 26 percent of metal forming companies forecast an increase in economic activity over the next three months, down from 29 percent in August, and 18 percent anticipate a decline in activity, up from 14 percent in August. Sixty-one percent of respondents reported an increase in lead times, down slightly from 64 percent in August.
“The September PMA Business Conditions Report reflects the fact that members are facing continued uncertainties related to the supply of raw materials to meet demand, the ongoing chip shortages that are impacting large customers and the continued shortage of workers,” says PMA President David Klotz. “Lead times and skyrocketing prices for raw materials, particularly steel, but also for aluminum, copper, brass and other metals, continue to grow and now extend into 2022 in some cases.
“The difficulty in finding and maintaining skilled workers also is a major focus for PMA,” Klotz adds, “with our association and members engaged in a proactive campaign to drive awareness about the great careers in our industry and programs to strengthen workforce training, such as METALFORM EDU. Additionally, through our One Voice advocacy team in Washington, D.C., we continue to advocate to end the damaging Section 232 steel and aluminum tariffs to help increase the supply of materials.”
See also: Precision Metalforming Association