Economy
PMA Survey Shows Little Change for Short-term Business Conditions
Written by Sandy Williams
April 19, 2015
Respondents in the April 2015 Precision Metalforming Association (PMA) Business Conditions Report found little to get excited about for the coming months.
A third of participants in the monthly survey expect improved economic activity during the next three months but 58 percent forecast no change. Incoming orders are expected to remain steady during the period.
Average daily shipping levels improved in April compared to three months ago according to 46 percent of participants and 40 percent said they were the same.
Seven percent of metalforming companies had workforce on short-time or layoff in April, down from 10 percent in March and 8 percent a year ago.
“Business conditions in the metalforming industry seem to accurately reflect the current state of the U.S. economy—generally okay, with pockets of disappointment (mining, heavy equipment, segments of construction) and pockets of opportunity (aerospace, home and commercial electronics, automotive and appliances),” said William E. Gaskin, PMA president.
“Fabricated metal products, as a segment of overall manufacturing, finished Q-1 2015 with average growth of 2.7%, according to the Federal Reserve, while PMA’s orders and shipments data indicates that typical PMA members have experienced one to two percent growth year-to-date for 2015 vs. 2014. Continued growth in regulatory burdens, lack of clear tax policy supporting manufacturing on the part of Congress and the strong U.S. dollar are all headwinds impacting PMA’s membership. However, the April Business Conditions Report indicates continued firming in expectations for shipments over the next three months, which is a positive trend.”
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
Architecture billings flat in October after months of contraction
Architecture firms reported stable billings in October, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek. This follows 20 months of contracting business conditions.
Trump taps Lutnick to be Commerce Secretary
President-elect Donald Trump has named Wall Street veteran Howard Lutnick as the new US Secretary of Commerce.
New York state manufacturing activity ramps up to multi-year high
New York state’s manufacturing sector saw substantial recovery in November, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.
CRU: Dollar and bond yields rise, metal prices fall as Trump wins election
Donald Trump has won the US presidential election. The Republican party has re-taken control of the Senate. Votes are still being counted in many tight congressional races. But based on results so far, the Republicans seem likely to maintain control of the House of Representatives. If confirmed, this will give Trump considerable scope to pass legislation pursuing his agenda. What this means for US policy is not immediately obvious. Trump will not be inaugurated until Jan. 20. In the coming weeks and months, he will begin to assemble his cabinet, which may give a clearer signal on his policy priorities and approaches. Based on statements he made during the presidential campaign, we have set out the likely direction of his economic policy here and green policy here.
ISM: Manufacturing index fell in Oct to lowest point of ’24
Domestic manufacturing contracted for the seventh straight month in October, according to the latest report from the Institute for Supply Management (ISM). This marks the 23rd time in the last 24 months that it has been in contraction.