PMA offers business conditions report for June 2007.
Press Release Summary:
According to June 2007 PMA Business Conditions Report, metalforming companies expect general business conditions to soften during next 3 months, although current production levels rose slightly with fewer companies reporting workers on short time or layoff. Conducted monthly, report provides economic indicator for manufacturing, sampling 157 metalforming companies in United States and Canada. Full report results are available at www.pma.org.
Original Press Release:
Business Conditions Report: June 2007
CLEVELAND, OH-June 15, 2007-According to the June 2007 Precision Metalforming Association (PMA) Business Conditions Report, metalforming companies expect general business conditions to soften during the next three months, although current production levels rose slightly with fewer companies reporting that they have workers on short time or layoff. Conducted monthly, the report is an economic indicator for manufacturing, sampling 157 metalforming companies in the United States and Canada.
When asked what they expect the trend in general economic activity to be over the next three months, 23% of participants reported that conditions will improve (down from 31% in May), 52% predict activity will remain the same (compared to 50% the previous month) and 25% anticipate a decline in business conditions (up from 19% in May).
Metalforming companies also expect that incoming orders will dip slightly during the next three months. Thirty-six percent of respondents forecast an increase in orders (down from 37% in May), 38% expect no change (compared to 42% last month) and 26% anticipate a decrease in orders (up from 21% in May).
However, current average daily shipping levels compared to the past three months improved in June. Thirty-seven percent of companies reported that shipping levels are above levels of three months ago (up from 32% in May), 43% reported no change (compared to 46% in May) and 20% reported that June shipping levels are below levels of three months ago (compared to 22% in May).
The number of metalforming companies with a portion of their workforce on short time or layoff dropped significantly in June to 14%. This figure is considerably lower than the 24% that was reported in May, and is at the lowest level since September 2006 when only 13% reported having workers on short time or layoff.
"Metalforming companies continue to reflect lower production levels among domestic automobile manufacturers and continued softness in construction markets," observed William E. Gaskin, president of PMA. "June data also reflects a normal seasonal pattern in manufacturing as summer vacations, model changeovers and routine maintenance impact order volumes and the sales cycle.
The monthly Business Conditions Report has been conducted by PMA since 1979. Full report results are available at www.pma.org. PMA is the full-service trade association representing the $91-billion metalforming industry of North America-the industry that creates precision metal products using stamping, fabricating and other value-added processes. Its nearly 1200 member companies include metal stampers, fabricators, spinners, slide formers and roll formers as well as suppliers of equipment, materials and services to the industry. Members are located in 30 countries, with the majority found in North America-in 41 states of the United States as well as Canada and Mexico.
Contact:
Christie Carmigiano
Government, Safety & Public Affairs Manager
Precision Metalforming Association
Phone: 216/901-8800
Fax: 216/901-9190
E-mail: ccarmigiano@pma.org
Web site: www.pma.org
