Economy
February PMA Shows Continued Optimism
Written by Sandy Williams
February 26, 2020
Metalforming companies continue to be optimistic about the economy, according to the February 2020 Precision Metalforming Association (PMA) Business Conditions Report.
When asked to predict economic activity for the next three months, 30 percent of members surveyed said they expect an improvement, down from 32 percent in January. Only 10 percent expect a decline. The remainding 60 percent (up from 55 percent) anticipate no change in activity.
“Metalforming companies continue to show resiliency and remain optimistic that business conditions will improve,” said PMA President David Klotz. “It’s important to note, however, that this survey was taken prior to the impact to supply chains and business conditions caused by the spread of the coronavirus.”
More than half of metalformers expect an uptick in incoming orders in the next three months, while 17 percent predict a decline.
Current average daily shipping levels were higher in February than January.
Metalforming companies reporting workforce on short time or layoff, decreased a percentage point to 12 percent. A year ago, 6 percent of companies reported workers on short time or layoff.
Sandy Williams
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