Economy
PMA: No Change In Business Conditions
Written by Sandy Williams
October 25, 2014
The metalforming industry is expecting little change in business conditions during the next three months according to the October 2014 Precision Metalforming Association (PMA) Business Conditions Report.
Firms surveyed predict that there will be a slight drop in incoming orders during the next three months. Average daily shipping levels improved, however, showed improvement.
Only 7 percent of respondents, compared to 11 percent in October 2013, reported workers on short time or layoff.
“Results from PMA’s October Business Conditions Report show that the metalforming industry continues to reflect general economic trends in the United States, demonstrating a mixed outlook for future business conditions,” said William E. Gaskin, PMA president. “Current events in the Middle East and continued lack of focus in Washington, D.C. such as failure to act on pressing tax concerns, including extending tax breaks for capital investment and the R&D tax credit, are impacting the ability of the U.S. economy to return to more robust growth. Typical PMA members report shipments in 2014 are up 7% year-over-year 2013, so growth continues, but at a more moderate pace than could otherwise be possible.”
This month’s report reflects responses from 121 PMA manufacturing members. Information is reported based on conditions as of October 1, 2014.
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
Trump reverses course on Colombia tariffs
The Trump administration has backed off tariffs on Colombia after the White House said the leader of the Latin American nation agreed to President Trump’s demands. “The Government of Colombia has agreed to President Trump’s terms, including the unrestricted acceptance of illegal aliens from Colombia returned from the United States… without limitation or delay,” according […]
Price: New administration sets roadmap for trade, manufacturing
Day One of the second Trump administration did not bring tariffs, but it did signal that tariffs, and other major trade actions, are not far off.
Architecture firm billings fell in December on market uncertainty
Architecture firms reported a sharp reduction in billings in December, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek.
Fed indicators show continued stability in manufacturing
Recent Federal Reserve data indicates that the US manufacturing sector remains healthy and stable. The strength of the manufacturing economy has a direct relationship to the health of the steel industry.
January energy market update
In this Premium analysis we cover North American oil and natural gas prices, drilling rig activity, and crude oil stock levels. Trends in energy prices and active rig counts are leading demand indicators for oil country tubular goods (OCTG), line pipe and other steel products.