Economy
PMA Report Reveals Little Change Expected in General Business Conditions
Written by Sandy Williams
March 19, 2015
According to the Precision Metalforming Association (PMA) Business Conditions Report for March 2015, little change is expected in general business conditions during the next three months.
PMA manufacturing members expect new orders to be the same or slightly higher in the coming months. Shipping levels were reported as steady in the March report and average lead times were slightly higher than three months ago.
Ten percent of members reported workers on short time or layoff compared to eight percent in February and 11 percent in March 2014.
“Results in PMA’s March report indicate that PMA member companies, especially those supplying the automotive market, are yet to be significantly impacted by slower-than-expected GDP growth, soft consumer demand, the stronger dollar and other indicators which might lead to a near-term slowdown in demand for metal stampings, assemblies and fabricated metal products,” said William E. Gaskin, PMA president. “Eighty percent of PMA members report shipping levels are the same or higher than one year ago, and 90 percent expect orders will be the same or trend higher over the three months ahead.”
“The metalforming industry continues to hope that members of Congress will step up and act on legislative issues such as making bonus depreciation and the R&D tax credit permanent, allowing companies to more confidently plan their investments in new equipment and product development.”
The current PMA Business Conditions Report is based on a sampling of 110 metalforming companies in the U.S and Canada and reflects business conditions as of March 1, 2015.
Sandy Williams
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