Economy
Metalformers Expect A Minor Downturn in Business Conditions
Written by Sandy Williams
June 1, 2016
The metalforming industry is expecting a slight dip in business conditions in the next three months according to the May 2016 Precision Metalforming Association (PMA) Business Conditions Report.
The May report, sampling 114 metalforming companies in the United States and Canada, indicated companies are expecting incoming order levels to remain unchanged during the next few months. Shipping levels in May were reported as trending downward.
Metalforming companies reporting a portion of their workforce on short time or layoff fell to 15 percent in May, from 16 percent in April. In May 2015 only 9 percent of companies reported workers on short time or layoff.
“PMA’s May Business Conditions Report reflects a typical cyclical pattern, as the report’s 3-month horizon (May through July) reflects a slowdown, which is typical for some manufacturing operations,” according to William E. Gaskin, PMA president. “That said, PMA’s separate Monthly Orders & Shipments Report for January through April 2016 reflects a 12% decline in orders booked in April vs. March, and a 7% decline in shipments for the same period. Automotive, medical equipment, building products and aerospace markets continue to be among the stronger segments supplied by the metalforming industry. There is growing concern among PMA members over sharp increases in steel prices in the United States following imposition of substantial antidumping duties on imports of flat-rolled steel from China and other low-cost producers. This may result in increased offshoring of metal parts, assemblies and products where flat-rolled metal is a substantial component of the final cost.”
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
Metalformers expect steady conditions in coming months
Metalformers expect economic activity to stabilize over the next three months, according to the recently released July Business Conditions Report from the Precision Metalforming Association (PMA).
Architecture Billings Index rises from 4-year low in June
The Architecture Billings Index (ABI) ticked up in June following May’s four-year low, according to the American Institute of Architects (AIA) and Deltek. While the index improved this month, it continues to indicate weak business conditions among architecture firms.
Beige Book: Uncertainty to continue fueling slower economic growth
Growth in the US economy continues to be constrained. The Federal Reserve’s Beige Book report for July shows more areas reporting flat or declining economic activity than in its previous report at the end of May.
AISI, AISC, University of Massachusetts get ~$6.4M EPA grant
The American Iron and Steel Institute (AISI), American Institute of Steel Construction (AISC), and the University of Massachusetts at Amherst have received a grant to enhance emissions reporting for steel construction projects.
Manufacturing activity in New York state continues to soften
New York state saw a continued decline in manufacturing activity in July, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.