Metalforming industry predicts business upswing
Cleveland, OH -- Metalforming companies are expecting a slight upswing in current and future business conditions, a...
Cleveland, OH — Metalforming companies are expecting a slight upswing in current and future business conditions, according to the December 1, 2004, Precision Metalforming Association (PMA) Business Conditions Report. Conducted monthly, the report is an economic indicator for manufacturing, sampling 164 metalforming companies in the United States and Canada.
When asked whether they anticipated that general economic activity would increase, decrease or remain the same over the next three months, 33% of respondents reported that they expect business conditions to improve (up from 29% in November), 50% thought that activity would remain the same, and 17% said it would decrease (compared to 19% last month).
Metalformers are also feeling more positive about expectations for incoming orders during the next three months, with 38% anticipating orders would increase (up from 35% in November), 42% predicting no change (compared to 32% last month) and just 20% indicating that orders would decrease over the next three months (down from 33% in November).
Only 29% of companies reported that current average daily shipping levels in December were above levels of three months ago (compared to 39% in November). This change may be attributed to a typical end-of-year slowdown. Forty-six per cent reported no change in shipment levels (up from 34% last month), and 25% said their shipping levels decreased from average shipping levels of the past three months (compared to 27% in November).
The number of metalforming companies with a portion of their workforce on short time or layoff remained virtually the same in December. Eighteen pe rcent reported they had workers on short time or layoff, compared to 19% in November.
The monthly Business Conditions Report has been conducted by PMA since 1979. Full report results are available at www.metalforming.com.
Precision Metalforming Association (PMA) is the full-service trade association representing the $41-billion metalforming industry of North America — the industry that creates precision metal products using stamping, fabricating and other value-added processes. Its nearly 1,200 member companies include metal stampers, fabricators, spinners, slide formers and roll formers as well as suppliers of equipment, materials and services to the industry. Members are located in 30 countries, with the majority found in North America — in 41 states of the United States, as well as Canada and Mexico.