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
Steel Summit: ITR economist urges execs to prepare for growth, not recession
If the steel industry professionals who made it to the very final presentation of this year’s SMU Steel Summit were expecting another round of cautious forecasting, they were in for a surprise. Because what they got was a wake-up call.
ISM: Manufacturing growth remained down in August
US manufacturing activity remained muted in August despite a marginal gain from July's recent low, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.
Steel Summit: Dr. Basu blames tariffs for riskier path ahead
Steel executives packed the main conference hall of the 2025 SMU Steel Summit on Tuesday, Aug. 26, to hear economist Dr. Anirban Basu lay out his blunt view of tariffs, inflation, and demand.
Steel Summit: Schneider sees SDI ‘on the edge of a very good run’
Steel Dynamics Inc. (SDI) President and Chief Operating Officer, Barry Schneider, remains bullish about the Fort Wayne, Ind.-based steelmaker’s position in the current market.
US housing starts gain momentum in July
US housing starts rose in July both month-on-month and year-on-year, according to figures from the US Census Bureau.