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Metalformers forecast uptick in activity

January 22, 2018 - Metalformers anticipate a continued uptick in business conditions during the next three months, according to the January 2018 Business Conditions Report, based on a survey of members of the Precision Metalforming Association in the United States and Canada.

Fifty eight percent of survey respondents forecast an improvement in economic activity during the next three months (up from 48 percent in December).  Another 40% expect no change (compared to 47 percent the previous month) and only 2 percent forecast a downturn.

PMA President Roy Hardy suggested that “metalfoming companies believe that revisions to the U.S. tax code passed by Congress may incentivize domestic manufacturing, putting them in a better position to make [capital] investments."

Metalforming companies also anticipate a rise in incoming orders during the next three months, with 59 percent predicting an increase in orders (up from 55 percent in December), 36 percent expecting no change, and only 5 percent forecasting lower order volume.

The percentage of PMA member companies with a portion of their workforce on short time or layoff dipped to 4 percent in January, compared with 10 percent reporting layoffs a year earlier.

 

Sources

  • Precision Metalforming Association
    Independence, Ohio
    phone: 216/901-8800
    www.pma.org

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