Steel Markets
Metalforming manufacturers predict stagnant market: PMA Business Conditions Report
Written by Kristen DiLandro
May 29, 2025
Most US and Canadian metalforming manufacturers expect general economic activity to remain steady over the next three months, according to the Precision Metalforming Association (PMA) Business Conditions Report for May.
In other words, the PMA’s monthly survey of 90 US and Canadian metalforming companies found May’s results consistent with those from April.
In May, 46% of metalforming manufacturers anticipated no significant change in economic activity over the next three months. This reflects a 1% decrease from April, when 47% of respondents expected activity to remain stable. Thirty-eight percent of respondents anticipate a decrease in activity, compared to 37% in April. Meanwhile, only 16% of manufacturers expect an uptick in general economic activity, mirroring April’s results.
Forty-four percent of metalformers anticipate no change in incoming orders over the next three months, down from 47% in April. The latest survey shows that 34% expect incoming orders to decline, compared to 26% in April. The percentage of respondents forecasting an increase in incoming orders fell to 22%, down from 27% in the previous month.
In May, 42% of metalformers reported no change in current average shipping levels, compared to 41% in April. Thirty percent reported an increase in average shipping levels, a decrease from 44% in April. And the percentage of respondents reporting a decrease rose to 28% in May, up from 15% in April.
The report also notes that 32% of respondents are expanding their current workforce, a slight decrease from 34% in April. The percentage of respondents with workers on short time or layoff rose to 9% in May, up from 4% in April. Twelve percent of respondents report increased lead times, the same percentage as in April.
Kristen DiLandro
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