Economy
Metalforming market sentiment takes a dive in September: PMA
Written by Kristen DiLandro
September 29, 2025
Metalforming manufacturers anticipate business conditions to worsen in the near-term, according to the Precision Metalforming Association’s (PMA) September report.
PMA’s monthly Business Conditions Report analyzes survey responses from 91 US and Canadian metalforming companies.
The survey shows 32% of manufacturers expect business activity to decline in the next three months, up from 24% in August. Just over half (54%) anticipate no change in activity, compared to 49% in August. Those expecting an increase in activity declined from 27% in August to 14% in September.
The number of metalformers forecasting a decline in incoming orders for the next three months rose to 28% in September from 23% in August. Nearly half (45%) expect no change in incoming orders, compared to 47% in August. Those expecting an increase in incoming orders fell to 27% from 30% in August.
In September, 50% of respondents reported no change in shipping levels, compared to 47% in August. Almost a third (31%) reported a decrease in average shipping levels, compared to 28% in August, while 19% reported an increase, down from 25%.
Respondents reporting workers on short time or laid off rose from 8% in August to 11% in September. About a third (32%) are expanding their workforce vs. 34% in August. Lead times decreased in September, with only 13% of respondents reporting an increase, down from 20% in August.
“September’s PMA Business Conditions Report reflects the headwinds manufacturers face from ongoing global supply-chain volatility,” said PMA President David Klotz.
“Our members are hopeful that as trade negotiations conclude, trade policy will stabilize and make planning more predictable,” he added.
Kristen DiLandro
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