Economy

Metalformers Expect Deteriorating Business Conditions
Written by Sandy Williams
June 1, 2019
Metalforming companies are expecting a downward trend in business conditions for the next three months, according to 119 metalforming companies surveyed by the Precision Metalforming Association.
The PMA Business Conditions Report for May shows only 19 percent of those surveyed expected economic activity to improve. About 24 percent expected orders to decline, an increase from 18 percent in the last survey.
Firms reported that average daily shipping levels declined in May. About 9 percent of metalforming firms reported some of their workforce on short time or layoff compared to 7 percent in April. At this time last year, the percentage reporting layoffs and short time was zero.
“Despite positive economic and job-growth reports coming out of Washington, PMA’s monthly Business Conditions report shows that metalforming manufacturers are concerned about the U.S. economy,” said PMA President David Klotz. “Over the past quarter, the monthly report has shown a slow but steady decline in PMA members’ optimism regarding economic activity, reflected in their prediction of a slowdown in incoming orders.
“The survey results coincide with reports from across the country that the steel and aluminum tariffs are taking a toll on steel- and aluminum-using manufacturers,” added Klotz. “PMA members are losing business to overseas competitors who are paying global market prices for steel while the United States continues to be an island of high steel prices due to the steel tariffs. The Trump administration’s termination of these tariffs for Canada and Mexico is an important first step, but all Section 232 steel and aluminum tariffs need to end for our members to remain competitive and before further damage is done to our manufacturing sector.”

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.