Market Data
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 Market Data
Chicago Business Barometer improves but still contracts in October
The Chicago Business Barometer’s October reading still indicates a cooling in general business activity despite posting a surprise gain.
Drilling activity slows at October’s end in US and Canada
The latest Baker Hughes rig count report showed oil and gas drilling slowing in both the US and Canada last week.
SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members.
SMU Steel Demand Index improves but remains in contraction
SMU’s Steel Demand Index remains in contraction, according to late October indicators. Though growth faded at a slower pace, it rebounded from one of the lowest readings year-to-date from earlier in the month.
SMU Mill Order Index fell in September
SMU’s Mill Order Index declined in September after repeated gains from June through August. The shift came as service center shipping rates and inventories fell.