Steel Markets
Market sentiment shows improvement: PMA Business Conditions Report
Written by Kristen DiLandro
July 23, 2025
Metalforming manufacturers say they’re more confident that near-term economic conditions are improving, according to the Precision Metalforming Association (PMA) Business Conditions Report for July.
PMA’s monthly report assessed survey responses from 95 US and Canadian metalforming companies.
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.
Kristen DiLandro
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