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Metal Formers Expect Flat Business Conditions to Continue

Friday, June 21, 2019
 
Most metal forming companies expect little or no change in business conditions during the next three months, according to the June 2019 Precision Metal forming Association (PMA) Business Conditions Report. The monthly report, a sampling 110 metal forming companies in the United States and Canada shows that 59 percent of respondents expect no change (compared to last month’s 63 percent). Meanwhile, 20 percent anticipate an improvement in economic activity during the next three months (up slightly from last month’s 19 percent), and 21 percent predict a decline in activity (up from last month’s 18 percent).

“PMA’s monthly Business Conditions Report reveals that metal forming manufacturers continue to show concern about business activity,” says PMA President David Klotz. “The survey results coincide with the Institute for Supply Management’s latest report showing that U.S. manufacturing activity in May fell to its lowest level in more than two years. That same report confirmed what PMA members have been reporting for several months: U.S. steel-using manufacturers are losing business to overseas competitors who are paying global market prices for steel while the United States continues to be an island of high steel prices due to the steel tariffs. Tariffs are taxes, and taxing manufacturers is not the way to grow manufacturing in this country. It’s time to terminate the Section 232 steel and aluminum tariffs.”

 

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