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Metalformers Bracing for a Decline

Monday, November 19, 2018
 
Metalforming companies forecast a decline in business conditions during the next three months, according to the November 2018 Precision Metalforming Association (PMA) Business Conditions Report. The monthly report, a sampling of 122 metalforming companies in the United States and Canada, shows that 28 percent predict a decline in activity (up from 12 percent in October); 21 percent anticipate an improvement in economic activity during the next three months (down from 25 percent in October); and 51 percent expect no change (compared to 63 percent last month).

“While metalforming companies have proven resilient in the face of steel and aluminum tariffs, longer lead times and price spikes for these essential commodities are beginning to hurt our members as reflected by the significant jump in survey respondents who are predicting a decline in business,” says PMA President Bill Gaskin. “This is the reason that PMA is active in Washington, D.C., and with local and national media outlets to educate the Trump administration and others about the damage being done to steel- and aluminum-using manufacturers. The Section 232 tariffs should be terminated as quickly as possible.”
 

 


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