Economy

Metalformers Expect Improved Business Conditions
Written by Sandy Williams
June 15, 2020
Metalforming companies are finally feeling optimistic about the economy and business conditions. After a difficult several months under the coronavirus pandemic, the June 2020 Precision Metalforming Association Business Conditions Report found 53 percent of survey respondents expect economic activity to improve in the next three months, up from 22 percent in May.
A spike in new orders is also in the forecast, according to 57 percent of participants, an increase from just 14 percent in May.
“The optimism reflected in PMA’s June Business Conditions Report likely stems from the lifting of stay-at-home orders in many states and the resiliency of our members,” said PMA President David Klotz. “PMA members are working to overcome the significant challenges created by COVID-19, continuing or restarting operations while protecting the safety of their employees.”
Average daily shipping levels stayed steady in June. Forty-three percent of metalforming companies reported a portion of their workforce on short time or layoff, down from 50 percent in May.
“The legislation passed by Congress included provisions supported by PMA such as extending the term for loan forgiveness,” added Klotz. “This will allow our members and other manufacturers to have more time to rehire workers.”

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.