Metalformers slightly more optimistic heading into 2025

Most metalformers expect incoming orders to hold steady, with 47% predicting no change, up from 40% last month. About 34% of survey respondents expect an increase in orders during the next three months, up from 30% in November. About 19% anticipate a decrease in orders, down from 30% in November.

However, current average daily shipping levels in December dropped after rebounding in November, with 45% reporting a decrease in shipping levels, 39% reporting no change, and 16% reporting an increase in levels, according to the report by the Cleveland-based trade association.

In terms of labor, the survey showed 12% of respondents reported a portion of their workforce on short time or layoff in December, slightly down from November. Meanwhile, 24% reported that they are expanding their workforce.

“As we head into 2025, our members are feeling a sense of cautious optimism,” David Klotz, president of the Precision Metalforming Association said in a statement. “Metalformers are hopeful that a new Congress and administration will prioritize important tax provisions, including reinstating R&D expensing and restoring 100% bonus depreciation, reducing unnecessary regulations, and fostering an environment that supports manufacturing growth.”

“Members urge policymakers to consider the full supply chain when shaping trade and economic policies to ensure the continued strength and competitiveness of U.S. manufacturing,” Klotz continued.

PMA represents more than 900 member companies. Its monthly business report serves as an economic indicator for manufacturing for the next three months.