Economy

Metalformers Forecast Steady Business Conditions
Written by Sandy Williams
August 24, 2017
Manufacturers in the precision metalforming sector are not expecting much change in business conditions during the next three months, although orders are expected to trend slightly downward, according to the August 2017 Precision Metalforming Association (PMA) Business Conditions Report.
Current average daily shipping levels dropped significantly in August with 28 percent reporting levels above those of three months ago, compared to 44 percent in the July report.
Only 3 percent of metal forming companies reported workforce on short time or layoff in August, compared to 5 percent in July.
“Our survey sees some softening in business conditions in the coming months, though overall the outlook remains stronger than last year at this time,” said PMA President Roy Hardy. “There is a noticeable uptick in members who believe economic activity in general, and incoming orders in particular, may be set for a small decline.”
“The administration’s delayed Section 232 review of steel imports is without question creating uncertainty and contributing to this increasingly cautious business outlook. Metalforming companies will see significant cost increases to their most essential inputs if tariffs are slapped on incoming product. We strongly urge the administration to consider the impact of its actions on small and medium-sized manufacturers across the country before it goes forward.”
The PMA report is a monthly economic indicator for manufacturing, sampling 103 metalforming companies in the United States and Canada in August.

Sandy Williams
Read more from Sandy WilliamsLatest in Economy

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.

Manufacturing in New York state improves again in August
Business activity in New York state improved modestly in August. It was just the second positive reading for the general business conditions index in six months.