Economy
PMA Members Expect Weaker Business Conditions During Next 3 Months
Written by Sandy Williams
May 13, 2015
Metalforming companies are expecting softer business conditions during the next three months according to the May 2015 Precision Metalforming Association (PMA) Business Conditions Report.
More participants surveyed thought economic conditions would remain the same (60 percent up from 58 percent) or decline (16 percent compared to 9 percent in April).
Incoming orders are expected to decline. Participants reported current average shipping days slipped downward in May.
Nine percent of companies reported workers on short time or layoff compared to 7 percent in April and 7 percent in May of 2014.
“PMA’s Business Conditions report for May reflects a typical seasonal adjustment in orders and shipments that generally occurs as we approach the end of Q-2,” said William E. Gaskin, PMA president. “PMA’s confidential Monthly Orders & Shipments Report of a sample of PMA members detailed that actual Q-1 orders and shipments grew by 3% and 2% respectively, vs. 2014, year-over-year. This reflects the slow growth pattern evidenced in GDP and Federal Reserve projections. The automotive sector continues to lead a general economic recovery in manufacturing in the United States.”
The monthly PMA report is an economic indicator for manufacturing, sampling 126 metalforming companies in the United States and Canada.
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.