Economy

Metalforming Companies Optimistic About Q1

Written by Sandy Williams

January 29, 2020

Metalforming companies are optimistic about business conditions for the first quarter of 2020. The January survey from the Precision Metalforming Association shows 32 percent of participants expect an improvement in economic activity during the next three months, up from 20 percent in December. The majority, 55 percent, forecast no change in activity, an increase of 1 percent from last month. Forty-three percent of firms in the survey expect an uptick in new orders.

“Metalforming companies are beginning the year with some optimism that 2020 will bring improved conditions,” said PMA President David Klotz. “The approval of the United States-Mexico-Canada Agreement and an easing of trade tensions with China are positive signs that 2020 will bring more stability. For many PMA members, the challenge of finding and training workers to fill job openings remains.”

Current average daily shipping levels improved in January. The number of firms reporting workforce on layoff or short time dropped to 13 percent from 15 percent in December. In January 2018, only 8.0 percent of participating companies reported workers on short time or layoff.

Sandy Williams

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