Economy
PMA Members Cautiously Look to Second Half
Written by Sandy Williams
July 26, 2019
Metalforming firms are concerned about business activity in the second half of this year, according to the July 2019 Precision Metalforming Association (PMA) Business Conditions Report. Sixty percent of participants expect no change in economic activity during the next three months (up from 59 percent in June), 16 percent predict an improvement in activity (compared to 20 percent last month), and 24 percent anticipate a decline in activity (up from 21 percent last month).
Incoming orders are expected to remain the same in the next few months with 49 percent, compared to 43 percent in July, forecasting no change in orders.
Average daily shipping levels in July were at about the same level as three months ago.
The percentage of metalforming companies with a portion of their workforce on short time or layoff increased to 9 percent in July, up from 6 percent in June and the same period a year ago.
Finding qualified workers to fill the more than 500,000 job openings in the sector remains a challenge, said PMA President David Klotz.
To address the problem, PMA recently launched an online training program to help companies build a talent pool. METALFORM EDU helps members recruit, train and retain a high-caliber workforce for now and the future. A number of courses are also available in Spanish.
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
Steel Summit: ITR economist urges execs to prepare for growth, not recession
If the steel industry professionals who made it to the very final presentation of this year’s SMU Steel Summit were expecting another round of cautious forecasting, they were in for a surprise. Because what they got was a wake-up call.
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.