Market Data
PMA Business Conditions Outlook Promising
Written by Sandy Williams
December 14, 2013
The next three months are looking good to metalforming companies in the Dec. 2013 Precision Metalforming Association Business Conditions Report. The number of participants that forecast an improvement in economic activity during the next three months jumped to 41 percent, up from 27 percent in November. Likewise, incoming orders are expected to spike with 43 percent anticipating an increase in orders, up from 33 percent in November.
Average daily shipping levels decreased in December according to participants. Only nine percent of companies reported workforce on short time or layoff, down from 13 percent in November and 17 percent in December 2012.
“PMA members are quite optimistic about the first quarter of 2014, and they are especially upbeat compared to December 2012,” said William E. Gaskin, PMA president. “While current shipping trends are somewhat lower than three months ago, that is a typical end-of-year pattern, and the level of optimism for new orders is significantly more positive. A number of other positive economic reports, including the strong November ISM Purchasing Managers Index for manufacturing of 57.3, a stronger than anticipated jobs report in November and continued strength in the automotive sector, have undoubtedly fueled the optimism.” (Source: Dec 2013 PMA Business Conditions Report)
Sandy Williams
Read more from Sandy WilliamsLatest in Market Data
Chicago Business Barometer improves but still contracts in October
The Chicago Business Barometer’s October reading still indicates a cooling in general business activity despite posting a surprise gain.
Drilling activity slows at October’s end in US and Canada
The latest Baker Hughes rig count report showed oil and gas drilling slowing in both the US and Canada last week.
SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members.
SMU Steel Demand Index improves but remains in contraction
SMU’s Steel Demand Index remains in contraction, according to late October indicators. Though growth faded at a slower pace, it rebounded from one of the lowest readings year-to-date from earlier in the month.
SMU Mill Order Index fell in September
SMU’s Mill Order Index declined in September after repeated gains from June through August. The shift came as service center shipping rates and inventories fell.