Economy
PMA: Business Activity to Remain Steady
Written by Sandy Williams
September 29, 2018
Members of the Precision Metalforming Association are expecting business conditions to remain steady for the rest of the year. A survey of 110 metalforming companies in the U.S. and Canada showed 28 percent of participants believe economic activity will improve, 62 percent expect no change (same as last month) and 10 percent expect a decline in activity. Incoming orders are expected to remain at current levels.
Average daily shipping levels increased during September with 53 percent reporting shipping levels as higher compared to 32 percent in August. Levels were perceived as unchanged by 34 percent versus 44 percent in August, and 13 percent reported a decrease in shipping levels, down from 24 percent.
“Our members remain resilient, as evidenced by little change in their outlook for economic activity and incoming orders month to month,” said PMA President Roy Hardy. “However, members also continue to report higher steel prices and longer lead times as a result of the Section 232 steel tariffs and are concerned about their ability to compete with companies in Europe and Asia if the tariffs are not rescinded.”
Only 3 percent of metalforming companies reported a workforce on short time or layoff, down from 4 percent in August and 4 percent a year ago.
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.