Economy
Metalformers expect steady conditions in coming months
Written by Brett Linton
July 26, 2024
Metalformers in the US and Canada expect steady economic activity over the next three months, according to the recently released July Business Conditions Report from the Precision Metalforming Association (PMA).
Approximately 61% of surveyed manufacturers expect stable business conditions over the next three months. This rate is up from 56% in June and 55% in May. Only 12% expect conditions to improve in the near future, down from 14% last month and 19% in May.
“The July PMA Business Conditions Report reflects the resiliency of our members and their ability to navigate through these uncertain times,” said PMA President David Klotz. “I am energized by the innovation and determination of our members to continue to compete in the global market and grow their businesses.”
Over half of respondents anticipate incoming orders to be steady through October (56%), with the remainder split on whether orders will increase or decrease.
The PMA comprises more than 900 member companies in the metalforming industry, as well as equipment, materials, and service providers to the industry. Its monthly business report serves as an economic indicator for manufacturing for the next three months.
Brett Linton
Read more from Brett LintonLatest in Economy
Housing starts slide in August, but interest rate cut should help
Housing starts slowed in the US in August as affordability challenges and cautious builder sentiment weighed on new construction activity.
Second steel derivatives S232 inclusion window opens, business community voices concern
The US Department of Commerce announced that its second window for submitting applications for the inclusion of derivative steel and aluminum products in Section 232 tariffs is now open, according to the US Federal Register. September’s Inclusion Window Sept. 15 through Sept. 29, applicants can email requests for inclusions to the Defense Industrial Base Programs. The first […]
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.