Economy
PMA Members Express Optimism Toward Future Business Conditions
Written by Sandy Williams
December 20, 2019
Members of the Precision Metalforming Association are a bit more positive about business conditions for 2020. The December PMA Business Conditions Report shows an uptick in the percentage of survey participants who predict an improvement in economic activity during the next three months, while also noting a decline in current average daily shipping levels. The survey showed that metalforming companies are expecting an improvement in incoming orders.
“Metalforming companies are ending a challenging year with some optimism that 2020 will bring improved conditions,” said PMA President David Klotz. “The U.S. manufacturing sector contracted this year, with the Institute of Supply Management Manufacturing Index registering its lowest level since 2009. Recent progress on a Phase 1 trade agreement with China and the United States-Mexico-Canada Agreement are positive signs that 2020 will bring more stability, but the trade restrictions that cause the most negative impact, the Section 232 steel and aluminum tariffs, remain unchanged.”
The percentage of companies reporting a portion of their workforce on short time or layoff remained unchanged from November at 15 percent. A year ago, 9 percent of companies reported workers on short time or layoff.
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
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
Construction adds 13,000 jobs in March
The construction sector added 13,000 jobs, seasonally adjusted, in March, but tariffs could undermine the industry.