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Report Indicates Steady, Yet Soft, Metal Forming Market Conditions

Friday, November 22, 2019
 
Soft market conditions remain a concern of metal forming companies, though little has changed since October, according to the November 2019 Precision Metalforming Association (PMA) Business Conditions Report.

The monthly report, a sampling of 100 metal forming companies in the United States and Canada, shows that 15 percent of participants predict an improvement in economic activity during the next three months (14 percent in October); 51 percent forecast no change in activity (49 percent in October); and 34 percent anticipate a decline in activity (37 percent in October).

“The November PMA Business Conditions Report showed little change from the previous month; metal forming companies remain concerned about market conditions as they continue to see a slowdown in incoming orders,” says PMA President David Klotz. “This corresponds with soft market conditions reported by PMA members’ customers in the automotive, aviation, appliance and other sectors. Ending the tariffs on steel and aluminum imports is one way that the administration can provide some stability to the market, as the tariffs are negatively affecting both steel users and steel producers.”

 

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