Economy
Metalformers Less Optimistic in October
Written by Sandy Williams
October 25, 2017
After greeting September with increased optimism, metalforming companies are now expecting business conditions to weaken slightly in the next three months, according to the October 2017 Precision Metalforming Association (PMA) Business Conditions Report. Metalforming companies also anticipate declines in incoming orders.
“Ebbs and flows in productivity are a part of today’s manufacturing industry,” said PMA President Roy Hardy. “Slight downturns can be caused by uncertainty over regulations from Washington or the unpredictability of available skilled workers in our communities.”
Average daily shipping levels declined in October, reported PMA members. Lead times were about the same as three months ago.
Fewer metalforming companies reported workers on short time or layoff in October, falling to 3 percent from 4 percent in September. A year ago the percentage was 12 percent.
The PMA report is a monthly economic indicator for manufacturing. October’s survey sampled 108 metalforming companies in the United States and Canada.
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
Industry groups praise Senate for passing tax and budget bill
The Steel Manufacturers Association and the American Iron and Steel Institute applauded the tax provisions included in the Senate's tax and budget reconciliation bill.
Chicago PMI dips 0.1 points in June
The Chicago Purchasing Managers Index (PMI) slipped 0.1 points to 40.4 points, in June.
Multi-family pullback drives housing starts to 5-year low in May
US housing starts tumbled in May to a five-year low, according to figures recently released by the US Census Bureau.
Architecture firms still struggling, ABI data shows
Architecture firms reported a modest improvement in billings through May, yet business conditions remained soft, according to the latest Architecture Billings Index (ABI) release from the American Institute of Architects (AIA) and Deltek.
Manufacturing in New York state contracts again
However, companies are growing more optimistic about the future.