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
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.