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Metal Formers Optimistic, According to PMA January Business Conditions Report

Monday, February 3, 2020
 
Metal forming companies begin 2020 with optimism and expect an upswing in economic activity in the first quarter of 2020, according to the January 2020 Precision Metalforming Association (PMA) Business Conditions Report. Prepared monthly, the report provides an economic indicator for manufacturing, sampling 110 metalforming companies in the United States and Canada.
The January report showed that 32 percent of participants predict an improvement in economic activity during the next three months (an increase from 20 percent in December); 55 percent forecast no change in activity (compared to 54 percent last month); and only 13 percent anticipate a decline in activity (a decrease from 26 percent in December).
“Metal forming companies are beginning the year with some optimism that 2020 will bring improved conditions,” says David Klotz, PMA president. “The approval of the United States-Mexico-Canada Agreement and an easing of trade tensions with China are positive signs that 2020 will bring more stability. For many PMA members, the challenge of finding and training workers to fill job openings remains. That’s one reason we are seeing growing interest in METALFORM EDU, PMA’s online training source.”

 

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