PMA October Business Conditions: Metal Formers Report Little Near-Term Optimism

Metal forming manufacturers anticipate continued challenging economic conditions, and reported declines in shipping levels and incoming orders this month, according to the October 2025 Precision Metalforming Association (PMA) Business Conditions Report. PMA’s report shows that 35% of manufacturers surveyed anticipate a decrease in general economic activity in the next three months (up from 32% in September), 47% predict no change in activity (compared to 54% in September) and 18% expect an increase in activity (compared to 14% last month). Metal formers also predict a downturn in incoming orders in the next three months.

“The decrease in shipping activity and forecast for incoming orders reflects the ongoing economic uncertainty in the market,” says David Klotz, PMA president. “At the same time, PMA members continue to lead industry efforts to strengthen U.S. manufacturing and support initiatives to curb unfair trade. However, members remain concerned about tariffs on steel and aluminum products that are not available in the United States. In addition, potential tariffs on machinery that is either not produced domestically or requires imported inputs would raise costs, delay investments, and ultimately hinder modernization and competitiveness across our industry.” 

See also: Precision Metalforming Association

Technologies: Management

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