Economy
PMA Manufacturers Keep Eyes on NAFTA and Trade Actions
Written by Sandy Williams
November 29, 2017
Metalforming manufacturers continue to be cautious in their three-month outlook as members watch NAFTA negotiations and trade actions with trepidation. The November Precision Metalforming Association (PMA) Business Conditions Report showed 30 percent of participants expecting improvement in economic activity in the next three months—the same percentage as October.
Little change is expected in incoming orders during the next three months. Of the 114 metalforming companies sampled in November, 49 percent expect no change (up from 47 percent in October), 32 percent expect an increase, and 19 percent expect orders to decline.
Current average daily shipping levels rose slightly in November. Thirty-nine percent of those surveyed say levels are higher than three months ago compared to 34 percent in October. Only 15 percent, compared to 21 percent in October, say levels have declined.
Just 1 percent of metalforming companies reported workforce on short time or layoff in November compared to 3 percent in October.
“PMA members continue to express caution regarding economic conditions for the manufacturing sector in the coming months,” said PMA President Roy Hardy. “Uncertainty over potential action in Washington that could profoundly impact the economic health of manufacturers, particularly in regard to the future of NAFTA and potential imposition of steel tariffs, results in PMA members continuing to have a guarded outlook. However, manufacturers also continue to show not only resilience, but the innovation that sets U.S. manufacturers apart from their global competition.”
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
ISM: US Manufacturing Improved in September, But Still Contracting
US manufacturing activity improved in September, nearing a recovery, but remained in contraction territory, according to the Institute for Supply Management (ISM).
Ford of Canada Union Workers Ratify Three-Year Labor Pact
Ford of Canada union workers represented by Unifor ratified a new, three-year labor agreement on Sunday.
ABI Index Drops in August
August’s Architecture Billings Index (ABI) reading from the American Institute of Architects (AIA) and Deltek showed a moderate decrease.
Beige Book: Economic Activity Appears Stable
The US Federal Reserve said that although overall economic activity was modest in July and August, per its latest Beige Book Report released on Sept. 6, the report was still slightly more optimistic than the previous one.
Dodge Momentum Declines in August on Tighter Lending
The Dodge Momentum Index (DMI) moved lower in August, driven by a slowdown in planning from tighter lending standards, according to the latest data from the Dodge Construction Network (DCN).