Economy

PMA Report Indicates Continued Market Weakness
Written by Sandy Williams
November 22, 2019
Metalforming companies reported continued weakness in the market in the latest survey by the Precision Metalforming Association. The PMA November 2019 Business Conditions Report showed 34 percent of participants expect a decline in economic activity and 51 percent expect no change.
“The November PMA Business Conditions Report showed little change from the previous month. Metalforming companies remain concerned about market conditions as they continue to see a slowdown in incoming orders and an overall softening of the market,” said PMA President David Klotz. “This corresponds with soft market conditions reported by PMA members’ customers in the automotive, aviation, appliance and other sectors. Ending the tariffs on steel and aluminum imports is one way that the administration can provide some stability to the market, as the tariffs are negatively affecting both steel users and steel producers.”
Average daily shipping level improved slightly in November, but metalforming companies predict that incoming orders will decline during the next three months.
Fifteen percent of companies surveyed reported a portion of their workforce on short time or layoff, compared to 12 percent in October and 6 percent a year ago.

Sandy Williams
Read more from Sandy WilliamsLatest in Economy

Dodge Momentum Index surges in July
The Dodge Momentum Index (DMI) jumped 20.8% in July and is now up 27% year-to-date, according to the latest data released by Dodge Construction Network.

ISM: Manufacturing growth slows in July, hits 10-month low
US manufacturing activity slowed again in July to a 10-month low

CRU: Pushing EU imports back to 15% would be a big task
Several EU member states have published a ‘non-paper’ that puts forward proposals for a post-safeguard trade measure.

SMU Community Chat: Tariff-induced panic purchases, inflation, and calculating costs
Chief executive of the Institute for Supply Management (ISM), Tom Derry highlighted how reactive buying behavior has shifted the market into a quiet demand period. Derry presented ISM data during the weekly SMU community chat.

Architecture billings still sluggish despite project inquiry uptick
The Architecture Billings Index (ABI), a leading indicator for non-residential construction activity, declined for an eighth straight month in June.