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
CRU: China hits back with retaliatory tariffs on US
Targets include coal, liquified natural gas, crude oil, and other commodities
ISM: Manufacturing expands in January for first time in years
Following more than two years of contraction, US manufacturing activity rebounded in January according to the Institute for Supply Management.
Tampa Steel Conference: Trade attorney says brace for turbulence
Steel and aluminum have been identified as high priorities for trade
Chicago Business Barometer rises in January
Despite the gain, the index remains below both the levels of November 2024 and the 2024 average.
CSPA asks Canadian government to work against potential tariffs
The Canadian Steel Producers Association (CSPA) has urged Canada to engage with the US administration to avoid the tariffs threatened by the Trump administration by Feb. 1. “The imposition of tariffs on Canadian goods will have an incredibly disruptive impact on our integrated North American supply chains and on our workers and their families,” François […]