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PMA Issues Business Conditions Report for December

Thursday, December 21, 2017
 

Metalforming manufacturing companies anticipate a spike in business conditions during the next three months, according to the December 2017 Business Conditions Report by the Precision Metalforming Association (PMA), Cleveland, OH. The monthly report is an economic indicator for manufacturing and reflects input from120 metalforming companies in the United States and Canada.

The report shows that 48 percent of participants expect an improvement in economic activity during the next three months (up significantly from 30 percent in November). Forty-seven percent expect no change (down from last month’s 54 percent). And only 5 percent anticipate a decline (a notable shift from November’s 16 percent).

“Manufacturers are feeling optimistic going into the new year,” says PMA President Roy Hardy. “Metalforming companies are hopeful that changes to the U.S. tax code will bring more certainty and stability, putting them in a better position to make investments in their businesses, add more workers, and compete in the global market. As Congress turns to implementation of tax reform, manufacturers hope that they will prioritize support for our industry.”

Metalforming companies also forecast an upturn in incoming orders during the next three months, with 55 percent predicting an increase in orders (up substantially from 32 percent in November), while 36 percent anticipate no change (down from 49 percent in November) and 9 percent look for orders to decrease in orders (down from 19 percent in November).

Current average daily shipping levels dipped in December. Twenty-nine percent of participants report that shipping levels are higher than three months ago (compared to 39% in November), 52 percent report that levels are the same (up from 46 percent the previous month) and 19 percent report a decrease in shipping levels (up from last month’s 15 percent).

The percentage of metalforming companies with a portion of their workforce on short time or layoff rose from 1 percent in November to 5 percent in December, a notable improvement over December 2016 when 11 percent of companies reported workers on short time or layoff.

PMA has published the monthly Business Conditions Report conducted since 1979. Complete results are available at http://www.pma.org/public/business_reports/pdf/BCREP.pdf. PMA is the full-service trade association representing the $137-billion metalforming industry of North America—the industry that creates precision metal products using stamping, fabricating, spinning, slide forming and roll forming technologies, and other value-added processes. Its nearly 800 member companies also include suppliers of equipment, materials and services to the industry. PMA leads companies toward superior competitiveness and profitability through advocacy, networking, statistics, the PMA Educational Foundation, FABTECH and METALFORM Mexico tradeshows, and MetalForming, Fabricating Product News and 3D Metal Printing magazines.

 


 


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