Economy
PMA Says Dip in Business Conditions Ahead
Written by Sandy Williams
February 18, 2014
The Precision Metalforming Association (PMA) reported metalforming companies surveyed in the February 2014 Business Conditions Report are expecting weaker business conditions during the next three months.
Those who expect economic activity to improve during the period slipped from 46 percent in January to 32 percent in February. PMA members anticipate a modest decline in incoming orders during the next three months.
Average daily shipping levels improved in February and are above levels of three months ago according to survey response.
Six percent of metalforming companies reported workforce on short time or layoff in February, unchanged from January and down from 19 percent a year ago.
“Business conditions reported by PMA members are consistent with widely reported caution on the part of manufacturers that consumer demand and confidence is not as strong as expected,” said William E. Gaskin, PMA president.
At a meeting of PMA’s Cleveland District, Gaskin said participants were frustrated by government inaction. “Most agreed that increasing regulatory costs and frustrations over the lack of action in Washington, D.C. on tax rates, immigration and trade agreements threatened to restrict a stronger economic recovery.”
The February PMA Business Conditions Report is based on responses from 115 PMA manufacturing members. The full report may be read at www.pma.org.
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
US sets Section 232 tariffs on trucks and buses
Medium- and heavy-duty trucks (MHDV) and buses imported to the US will start being charged Section 232 tariffs beginning Nov. 1.
AMU: Consumer auto delinquencies: Warning sign for consumer health?
The Consumer Federation of America estimates rising total auto debt at a staggering $1.66 trillion, along with increasing repossessions and a sharp increase in delinquencies.
Beige Book: Regional market growth remains mostly flat
Economic growth in some US regions in September was offset by challenges in others, causing the market to appear largely unchanged overall, according to the Federal Reserve’s latest Beige Book report.
ISM September survey captures deepening manufacturing gloom
The Institute for Supply Management’s (ISM) latest monthly report on manufacturing reflects a bleak view of American industry in September.
Key industries concerned over government shutdown’s impact on steel, manufacturing
Trade groups cautioned that a prolonged shutdown could strain US industry.