Economy
PMA Cautious About 4th Quarter 2014
Written by Sandy Williams
September 20, 2014
The September Precision Metalforming Association (PMA) Business Conditions Report reveals that metalforming companies are less optimistic about the business conditions for the next three months. The number of participants expecting economic activity to decline doubled to 14 percent from 7 percent last month, 51 percent expect no change (down from 53 percent) and 35 percent are expecting an improvement in conditions (down from 40 percent).
A dip in incoming orders is forecast for the next three months, with 49 percent expecting no change (up from 47 percent) and 16 percent expecting a decrease (compared to 10 percent in August).
“PMA member companies are somewhat cautious about the outlook for Q-4,” said William E. Gaskin, PMA president. “While orders and shipments for the first half of 2014 were up vs. 2013 by 5% and 7% respectively, in this month’s Business Conditions Survey 29% reported that current shipment activity is down compared to one year ago, up from 16% in August. Members with employees on short-time or layoff also rose in September to 10 percent, vs. 6 percent in August. Higher costs of raw material, government regulations and uncertainties due to the lack of leadership in Washington, D.C., undoubtedly are some of the reasons manufacturers express concern about near-term growth.”
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
Second steel derivatives S232 inclusion window opens, business community voices concern
The US Department of Commerce announced that its second window for submitting applications for the inclusion of derivative steel and aluminum products in Section 232 tariffs is now open, according to the US Federal Register. September’s Inclusion Window Sept. 15 through Sept. 29, applicants can email requests for inclusions to the Defense Industrial Base Programs. The first […]
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.