Economy
PMA Members Optimistic About Business Conditions
Written by Sandy Williams
March 1, 2017
Members of the Precision Metalforming Association are expecting continued strong business conditions during the next three months. The monthly survey of 115 metalforming companies in the U.S. and Canada indicates economic activity will be steady with a slight increase in incoming orders.
Average daily shipping levels were improved in February with 38 percent of participants indicating higher levels compared to 30 percent in January; 44 percent said levels were the same as three months ago.
Employment conditions remained unchanged from January with 10 percent of companies reporting workforce on short time or layoff. In comparison, in February 2016, 14 percent of companies reported short time and layoffs.
“PMA manufacturing member companies continued to report very positive expectations for economic activity for the next three months, with only 7% anticipating a negative trend,” said William E. Gaskin, PMA president. “Shipping levels are rising and only 3% forecast that new orders will decline during the next three months.” Gaskin also commented that 43% of member companies reported they have begun to expand their workforce, a jump of 11% from the prior month. “Overall, there has been a significant positive shift in expectations for improved business activity by top executives in the metalforming industry, coinciding with the election of President Trump and his taking office in January,” said Gaskin.
Sandy Williams
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