Economy
Metalformers Regaining Optimism in March
Written by Sandy Williams
March 16, 2014
After a shake in confidence last month, metalforming companies are once again optimistic that business conditions will improve in the next three months, albeit only slightly. Metal companies surveyed in the March 2014 Precision Metalforming Association (PMA) Business Conditions Report, however, are anticipating new orders to fall slightly during that same period.
Current average daily shipping levels improved in March with 48 percent reporting levels higher than three months. Lead times are about the same or somewhat shorter than 3 months ago, with 80 percent expressing no change, and 14 percent reporting lead times as shorter (up from 10 percent in February).
In March, 11 percent of those surveyed reported workforce on short time or layoff, up from 6 percent last month.
“Business conditions continue to be quite positive in the overall metalforming industry,” said William E. Gaskin, PMA president. “Companies continue to be cautious, due to higher costs of health care, continued threats of increased regulatory burdens and the failure of job figures to rise as they should if the economy is on a path to a stronger recovery. However, in a separate PMA monthly orders and shipment report, there were strong numbers posted for January new orders and shipments vs December 2013. It looks like Q-1 is off to a good start, and this month’s Business Conditions Report suggests that this should continue for at least the next few months.”
The March PMA Business Conditions Report is based on responses from 117 PMA manufacturing members in the US and Canada. 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.