More metalforming companies predict better business
A larger percentage of metalforming companies are predicting better business in the next three months compared with those in October, according to the latest survey from the Precision Metalforming Association.
The Cleveland-based PMA found that about 27 percent of its survey respondents said economic activity will improve in coming months, up from just 22 percent in October. However, a majority of companies — 58 percent — are still expecting unchanged activity, according to the association. That percent is up 2 percentage points from last month.
The percent of companies who believe conditions will worsen dropped 7 points to just 15 percent, the association said.
Thirty-three percent of companies said they expected better incoming orders over the next three months with 45 percent saying they expected no change.
Just 13 percent of companies said they had workers on short-time or layoff, compared with 17 percent a year ago. That was up just 2 percentage points from October.
PMA surveyed 124 companies in the U.S. and Canada for their business activity report. Metalforming activity is just one indicator of how other manufacturing and industrial sectors are performing.
The association has about 900 member companies in the $113 billion metalforming industry that includes stamping, fabricating, and roll-forming companies.