Economy
PMA Members Cautiously Look to Second Half
Written by Sandy Williams
July 26, 2019
Metalforming firms are concerned about business activity in the second half of this year, according to the July 2019 Precision Metalforming Association (PMA) Business Conditions Report. Sixty percent of participants expect no change in economic activity during the next three months (up from 59 percent in June), 16 percent predict an improvement in activity (compared to 20 percent last month), and 24 percent anticipate a decline in activity (up from 21 percent last month).
Incoming orders are expected to remain the same in the next few months with 49 percent, compared to 43 percent in July, forecasting no change in orders.
Average daily shipping levels in July were at about the same level as three months ago.
The percentage of metalforming companies with a portion of their workforce on short time or layoff increased to 9 percent in July, up from 6 percent in June and the same period a year ago.
Finding qualified workers to fill the more than 500,000 job openings in the sector remains a challenge, said PMA President David Klotz.
To address the problem, PMA recently launched an online training program to help companies build a talent pool. METALFORM EDU helps members recruit, train and retain a high-caliber workforce for now and the future. A number of courses are also available in Spanish.
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
Architecture billings continue to slide in March
Architecture firms said billings continued to decline in March, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek.
Beige Book shows concerns about trade policy
Manufacturing was mixed, but two-thirds of districts said activity was little changed or had declined.
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