Economy
PMA Members Predicting Decline in Business
Written by Sandy Williams
November 26, 2018
Metalforming firms are expecting a decline in business conditions and new orders during the next three months, according to the November 2018 Precision Metalforming Association (PMA) Business Conditions Report. The PMA is a monthly economic indicator for manufacturing, sampling 122 metalforming companies in the United States and Canada.
Current average shipping levels were steady in November. Firms with a portion of their workforce on short time or layoff increased to 6 percent from 2 percent in October and just 1 percent in November of 2017.
“While metalforming companies have proven resilient in the face of steel and aluminum tariffs, longer lead times and price spikes for these essential commodities are beginning to hurt our members as reflected by the significant jump in survey respondents who are predicting a decline in business,” said PMA President Bill Gaskin. “This is the reason that PMA is active in Washington, D.C., and with local and national media outlets to educate the Trump administration and others about the damage that is being done to steel- and aluminum-using manufacturers. The Section 232 tariffs should be terminated as quickly as possible.”
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
Chicago Business Barometer falls back in April, remains in contraction
The Chicago Business Barometer declined in April, reversing March’s gains, according to Market News International (MNI) and the Institute for Supply Management (ISM).
Fewer manufacturers optimistic about the economy
PMA’s April report shows that only 16% of surveyed manufacturers anticipate an increase in economic activity in the next three months (down from 23% in March)
Architecture billings continue to slide in March
Architecture firms said billings continued to decline in March, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek.
Beige Book shows concerns about trade policy
Manufacturing was mixed, but two-thirds of districts said activity was little changed or had declined.
New York state manufacturing index drops again in April
Firms were pessimistic, with the future general business conditions index falling to its second lowest reading in the more than 20-year history of the survey