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Metalformers Prepare for More of the Same

Tuesday, January 8, 2019
 
Metalforming companies anticipate little change in business conditions during the next three months, according to the December 2018 Precision Metalforming Association (PMA) Business Conditions Report. The monthly report, a sampling of 115 metalforming companies in the United States and Canada, shows that while 23 percent of participants forecast an improvement in economic activity during the next three months (up slightly from 21 percent in November), 49 percent expect no change (compared to November’s 51 percent) and 28 percent predict a decline in activity (the same as November).

“The report reflects little change in the concerns of metalforming manufacturers who continue to report higher steel prices and longer lead times because of the Section 232 steel tariffs,” says PMA President Bill Gaskin. “We are also watching the drop in shipping levels and the increase in layoffs reported to see if they are a trend resulting from lost business due to the tariffs. The Trump Administration can help U.S. manufacturers compete globally by removing the 232 tariffs as quickly as possible.”

 


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