Economy
Metalformers See Slight Dip Coming in Business Conditions
Written by Sandy Williams
April 27, 2017
Members of the Precision Metalforming Association are anticipating a slight downturn in business conditions during the next three months, according to the latest PMA Business Conditions Report.
The April report sampled 120 metalforming companies in the U.S. and Canada and showed 45 percent of participants expecting improvement in general activity in the near future compared to 50 percent last month. Orders are expected to drop slightly as well.
The current average daily shipping level was steady in April. Fewer firms reported workforce on short term or layoff during the month, 6 percent in April compared to 9 percent in March.
“Overall, the second quarter of 2017 continues to look very positive,” said William E. Gaskin, PMA president. “Metalforming companies reported rising shipments for the fifth consecutive month in April, with 86% reporting that they expect new orders to rise or at least equal current levels over the next three months. Concerns over the ability to hire skilled employees are rising, as only 6% of companies reported having employees on short-time or layoff. And 50% of PMA members reported that they are expanding their workforce. PMA members are expressing growing concerns that the U.S. Congress has not effectively addressed health care costs and does not yet have consensus on tax reform for corporations and Sub S entities, or on straightforward issues such as making it possible to repatriate offshore profits. These reforms would help boost the ability to invest in U.S. operations of multinational companies.”
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
Second steel derivatives S232 inclusion window opens, business community voices concern
The US Department of Commerce announced that its second window for submitting applications for the inclusion of derivative steel and aluminum products in Section 232 tariffs is now open, according to the US Federal Register. September’s Inclusion Window Sept. 15 through Sept. 29, applicants can email requests for inclusions to the Defense Industrial Base Programs. The first […]
Steel Summit: ITR economist urges execs to prepare for growth, not recession
If the steel industry professionals who made it to the very final presentation of this year’s SMU Steel Summit were expecting another round of cautious forecasting, they were in for a surprise. Because what they got was a wake-up call.
ISM: Manufacturing growth remained down in August
US manufacturing activity remained muted in August despite a marginal gain from July's recent low, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.
Steel Summit: Dr. Basu blames tariffs for riskier path ahead
Steel executives packed the main conference hall of the 2025 SMU Steel Summit on Tuesday, Aug. 26, to hear economist Dr. Anirban Basu lay out his blunt view of tariffs, inflation, and demand.
Steel Summit: Schneider sees SDI ‘on the edge of a very good run’
Steel Dynamics Inc. (SDI) President and Chief Operating Officer, Barry Schneider, remains bullish about the Fort Wayne, Ind.-based steelmaker’s position in the current market.