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Metal Formers Send Mixed Signals on Economy

Monday, April 8, 2019
 
Metal forming companies sent mixed signals regarding their expectations for business conditions during the next three months, according to the March 2019 Precision Metalforming Association (PMA) Business Conditions Report. The monthly report, a sampling of 110 metal forming companies in the United States and Canada, shows that 37 percent anticipate an improvement in economic activity during the next three months (up from 27 percent in February) and 49 percent expect no change (down from the 66 percent in February). Meanwhile,the number of metal formers bracing for a decline rose from 7 percent to 14 percent.

“PMA’s latest report shows more members are optimistic about improving economic conditions over the next several months, which is a good sign,” says PMA President David Klotz. “However, the percentage of members who expect a decline in economic activity, while still a relatively small portion of respondents, doubled last month. We will need to gather more data over the next several months to determine a trend, but what we do know is that our members are still facing headwinds because of the Section 232 tariffs on steel and aluminum. PMA will continue to advocate in Washington, D.C. to remove this tax on manufacturers as soon as possible.”

 


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