PMA releases Business Conditions Report for April 2010.
Share:
Press Release Summary:
According to April 2010 PMA Business Conditions Report, metalforming companies expect business conditions to remain steady during next 3 months. Report shows that 45% of participants expect improvement in economic activity during next 3 months, while 45% predict that activity will remain unchanged. Companies also forecast continued positive momentum in incoming orders, and 61% of participants report that shipping levels are above levels of 3 months ago.
Original Press Release:
Business Conditions Report: April 2010
Business Conditions Report: April 2010
CLEVELAND, OH - According to the April 2010 Precision Metalforming Association (PMA) Business Conditions Report, metalforming companies expect business conditions to remain steady during the next three months. Conducted monthly, the report is an economic indicator for manufacturing, sampling 142 metalforming companies in the United States and Canada.
The April report shows that 45% of participants expect an improvement in economic activity during the next three months (up from 43% in March), 45% predict that activity will remain unchanged (down from 52% last month) and 10% report that activity will decline (up from 5% in March).
Metalforming companies also forecast continued positive momentum in incoming orders, with little change in orders during the next three months. Increased orders are anticipated by 50% (compared to 48% in March), 37% expect no change (compared to 42% the previous month) and 13% predict a decrease in orders (up from 10% in March).
The percent of members experiencing higher average daily shipping levels rose in April for the third straight month. Sixty-one percent of participants report that shipping levels are above levels of three months ago (up from 54% in March), 29% report no change (compared to 36% in March) and 10% report that shipping levels are below levels of three months ago (the same percentage reported last month).
The percentage of metalforming companies with a portion of their workforce on short time or layoff remained unchanged from March to April, at 42%.
"The positive and stable outlook reflected in PMA's April Business Conditions Report indicates that the sharp increases in orders and shipments reported by members in our separate Monthly Orders and Shipments Report should continue through the second quarter," said William E. Gaskin, PMA president. "Based on a control group of 100 metalforming companies, the average increase in orders is up approximately 50 percent, and shipments are up by approximately 30 percent in the first quarter of 2010 compared to year-ago levels. While orders and shipments are not yet approaching levels of 2008, business conditions have improved and likely will continue to improve for the next three months."
The monthly Business Conditions Report has been conducted by PMA since 1979. Full report results are available at pma.org/about/stats/BCreport. PMA is the full-service trade association representing the $113-billion metalforming industry of North America - the industry that creates precision metal products using stamping, fabricating, spinning, slide forming and roll forming technologies, and other value-added processes. Its nearly 1,000 member companies also include suppliers of equipment, materials and services to the industry. PMA leads innovative member companies toward superior competitiveness and profitability through advocacy, networking, statistics, the PMA Educational Foundation, FABTECH and METALFORM tradeshows, and MetalForming magazine.
