Market sentiment shows improvement: PMA Business Conditions Report

Fifty-four percent of the manufacturers surveyed predict there will be no change in economic activity over the next three months, a bump from 48% in June. Twenty-seven percent of respondents say general economic activity will increase, up from 24% in June and 16% in May. Meanwhile, 19% of survey responders expect activity in the market to decrease. Survey participants who anticipated decreases in activity totaled 28% in June and 38% in May.

Survey respondents who anticipate increases in orders over the next three months grew to 36% compared to 24% in June. Forty-six percent expect no change in the number of orders received within the next three months, down from 47% in June. And 27% forecast a downturn in orders for the three-month period.

In July, 50% of metalformers reported no change in current average shipping levels, compared to 42% in June. Twenty-three percent reported an increase in average shipping levels, compared to 29% in June. And the percentage of respondents reporting a decrease dropped to 27% in July, down from 29% in June.

Respondents reportedly expanding their current workforce totaled 36% compared to 35% in June. The report showed that 8% of respondents had workers on short time or layoff in July, a drop from the 13% in June.

July lead times reportedly rose according to 18% of respondents, up from 13% in June.