Analysis
December 3, 2025
Metalformers outlook steady despite headwinds in November: PMA
Written by David Schollaert
Metalforming manufacturers were mixed in their outlook, anticipating business conditions could either worsen or, at best, hold in the near-term, according to the Precision Metalforming Association’s (PMA) November report.
PMA’s monthly Business Conditions Report analyzes survey responses from 85 US and Canadian metalforming companies.
The survey shows 35% of manufacturers expect business activity to decline in the next three months, even with October’s results. Just over half (51%) anticipate no change in activity, compared to 47% last month. Those expecting an increase in activity declined from 18% in October to 14% in November.
In November, 40% of respondents reported a decline in daily shipping levels, vs. 38% in October. More than a third (39%) reported no change in daily shipping levels, compared to 36% in October, while 21% reported an increase, down from 26%.
The number of metalformers forecasting an increase in incoming orders for the next three months rose to 31% in November from 21% in October. Another 36% expect no change in incoming orders, compared to 40% in the month prior. Those expecting a decrease in incoming orders fell to 33% from 39% in October.
Respondents reporting workers on short time or laid off rose from 8% in October to 14% in November. Another 26% are expanding their workforce vs. 29% in October. Lead times were static from October to November, with only 9% of respondents reporting an increase.
“PMA’s November Business Conditions Report shows that members continue to be cautious about expected economic activity over the next three months,” said PMA President David Klotz.
While results reflect continued uncertainty in the market, due in part to higher prices of key inputs like steel and aluminum, Klotz said an increase in incoming orders, speculated by many members, was a “positive sign of the industry’s resilience.”
