Economy
PMA Manufacturers Keep Eyes on NAFTA and Trade Actions
Written by Sandy Williams
November 29, 2017
Metalforming manufacturers continue to be cautious in their three-month outlook as members watch NAFTA negotiations and trade actions with trepidation. The November Precision Metalforming Association (PMA) Business Conditions Report showed 30 percent of participants expecting improvement in economic activity in the next three months—the same percentage as October.
Little change is expected in incoming orders during the next three months. Of the 114 metalforming companies sampled in November, 49 percent expect no change (up from 47 percent in October), 32 percent expect an increase, and 19 percent expect orders to decline.
Current average daily shipping levels rose slightly in November. Thirty-nine percent of those surveyed say levels are higher than three months ago compared to 34 percent in October. Only 15 percent, compared to 21 percent in October, say levels have declined.
Just 1 percent of metalforming companies reported workforce on short time or layoff in November compared to 3 percent in October.
“PMA members continue to express caution regarding economic conditions for the manufacturing sector in the coming months,” said PMA President Roy Hardy. “Uncertainty over potential action in Washington that could profoundly impact the economic health of manufacturers, particularly in regard to the future of NAFTA and potential imposition of steel tariffs, results in PMA members continuing to have a guarded outlook. However, manufacturers also continue to show not only resilience, but the innovation that sets U.S. manufacturers apart from their global competition.”
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
New York state manufacturing index drops again in April
Firms were pessimistic, with the future general business conditions index falling to its second lowest reading in the more than 20-year history of the survey
Construction adds 13,000 jobs in March
The construction sector added 13,000 jobs, seasonally adjusted, in March, but tariffs could undermine the industry.
Supply chains, end-users brace for impact from tariffs
Supply chains are working through what the tariffs mean for them
ISM: Manufacturing expansion loses steam after two months of growth
US manufacturing activity slowed in March after two straight months of expansion, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.
Chicago Business Barometer rose to 16-month high in March
The Chicago Business Barometer increased for the third-consecutive month in March. Despite this, it still reflects contracting business conditions, as it has since December 2023.