Metalforming manufacturers predict stagnant market: PMA Business Conditions Report

In May, 46% of metalforming manufacturers anticipated no significant change in economic activity over the next three months. This reflects a 1% decrease from April, when 47% of respondents expected activity to remain stable. Thirty-eight percent of respondents anticipate a decrease in activity, compared to 37% in April. Meanwhile, only 16% of manufacturers expect an uptick in general economic activity, mirroring April’s results. 

Forty-four percent of metalformers anticipate no change in incoming orders over the next three months, down from 47% in April. The latest survey shows that 34% expect incoming orders to decline, compared to 26% in April. The percentage of respondents forecasting an increase in incoming orders fell to 22%, down from 27% in the previous month. 

In May, 42% of metalformers reported no change in current average shipping levels, compared to 41% in April. Thirty percent reported an increase in average shipping levels, a decrease from 44% in April. And the percentage of respondents reporting a decrease rose to 28% in May, up from 15% in April. 

The report also notes that 32% of respondents are expanding their current workforce, a slight decrease from 34% in April. The percentage of respondents with workers on short time or layoff rose to 9% in May, up from 4% in April. Twelve percent of respondents report increased lead times, the same percentage as in April.