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
Read more from Sandy WilliamsLatest in Economy
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.
Chicago Business Barometer slips in October
The Chicago Business Barometer fell to a five-month low in October and continues to indicate deteriorating business conditions, according to Market News International (MNI) and the Institute for Supply Management (ISM).