Economy
PMA Members Expect Weaker Business Conditions During Next 3 Months
Written by Sandy Williams
May 13, 2015
Metalforming companies are expecting softer business conditions during the next three months according to the May 2015 Precision Metalforming Association (PMA) Business Conditions Report.
More participants surveyed thought economic conditions would remain the same (60 percent up from 58 percent) or decline (16 percent compared to 9 percent in April).
Incoming orders are expected to decline. Participants reported current average shipping days slipped downward in May.
Nine percent of companies reported workers on short time or layoff compared to 7 percent in April and 7 percent in May of 2014.
“PMA’s Business Conditions report for May reflects a typical seasonal adjustment in orders and shipments that generally occurs as we approach the end of Q-2,” said William E. Gaskin, PMA president. “PMA’s confidential Monthly Orders & Shipments Report of a sample of PMA members detailed that actual Q-1 orders and shipments grew by 3% and 2% respectively, vs. 2014, year-over-year. This reflects the slow growth pattern evidenced in GDP and Federal Reserve projections. The automotive sector continues to lead a general economic recovery in manufacturing in the United States.”
The monthly PMA report is an economic indicator for manufacturing, sampling 126 metalforming companies in the United States and Canada.
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.