Economy
PMA Expects Strong Business Conditions for Next 3 Months
Written by Sandy Williams
March 30, 2017
The Precision Metalforming Association released its March Business Conditions Report and found that members continue to be optimistic about future business conditions.
A survey of 119 metalforming companies in the U.S. and Canada revealed that members expect steady orders and strong economic activity in the next three months.
Current average daily shipping levels jumped in March with 53 percent of members surveyed saying levels are higher compared to 38 percent in February.
Nine percent of companies reported workers on short time or layoff in March, compared to 10 percent in February and 17 percent in March 2016.
“PMA members continued to report higher expectations for general business conditions and specifically for increased orders in March, along with a strong uptick in orders shipped – up 15 percent vs. the February report, reflecting strong movement from “same” to “up,” said William E. Gaskin, PMA president. “The increase in orders was stronger than the 5.7 percent jump in orders reported by the March Institute for Supply Management (ISM) report, and mirrors the general sentiment for the manufacturing segment. Underlying growth in consumer spending, GDP growth and other key economic indicators reported by the Federal Reserve are lagging those of the metalforming sector.”
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
ISM September survey captures deepening manufacturing gloom
The Institute for Supply Management’s (ISM) latest monthly report on manufacturing reflects a bleak view of American industry in September.
Key industries concerned over government shutdown’s impact on steel, manufacturing
Trade groups cautioned that a prolonged shutdown could strain US industry.
Chicago Business Barometer catches cold winds of contraction in September
The Chicago Business Barometer's September reading indicates a softening in overall business activity in the Midwest for the third consecutive month, with new orders and backlogs retreating further.
Metalforming market sentiment takes a dive in September: PMA
Metalforming manufacturers anticipate a decrease in near-term conditions, according to the Precision Metalforming Association's (PMA) Business Conditions Report for September.
AIA: Architecture firms still under pressure
Architecture firms reported a modest improvement in billings through August, yet business conditions remained soft, according to the latest Architecture Billings Index (ABI) release from the American Institute of Architects (AIA) and Deltek.