Economy

PMA: No Change In Business Conditions

October 25, 2014

The metalforming industry is expecting little change in business conditions during the next three months according to the October 2014 Precision Metalforming Association (PMA) Business Conditions Report.

Firms surveyed predict that there will be a slight drop in incoming orders during the next three months. Average daily shipping levels improved, however, showed improvement.

Only 7 percent of respondents, compared to 11 percent in October 2013, reported workers on short time or layoff.

“Results from PMA’s October Business Conditions Report show that the metalforming industry continues to reflect general economic trends in the United States, demonstrating a mixed outlook for future business conditions,” said William E. Gaskin, PMA president. “Current events in the Middle East and continued lack of focus in Washington, D.C. such as failure to act on pressing tax concerns, including extending tax breaks for capital investment and the R&D tax credit, are impacting the ability of the U.S. economy to return to more robust growth. Typical PMA members report shipments in 2014 are up 7% year-over-year 2013, so growth continues, but at a more moderate pace than could otherwise be possible.”

This month’s report reflects responses from 121 PMA manufacturing members. Information is reported based on conditions as of October 1, 2014.