PMA releases July 2007 business conditions report.

Press Release Summary:



PMA Business Conditions Report, sampling 166 companies in the U.S. and Canada, indicates that metalforming companies expect business conditions to remain steady during the next 3 months. Companies expect little change in incoming orders. Current average daily shipping levels compared to the past 3 months dipped slightly in June. The number of companies with a portion of their workforce on short time or layoff dropped to 11% in July.



Original Press Release:



Business Conditions Report: July 2007



CLEVELAND, OH-July 26, 2007-According to the July 2007 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 166 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 (the same percentage reported in June), 60% anticipate activity will remain the same (compared to 52% the previous month) and 17% predict a decline in business conditions (down from 25% in June).

Metalforming companies also expect little change in incoming orders during the next three months. Thirty-two percent of respondents forecast an increase in orders (down from 36% in June), 49% expect no change (compared to 38% last month) and 19% anticipate a decrease in orders (down from 26% in June).

Current average daily shipping levels compared to the past three months dipped somewhat in June. Only 25% of companies reported that shipping levels are above levels of three months ago (down from 37% in June), 47% reported no change (compared to 43% in June) and 28% reported that July shipping levels are below levels of three months ago (compared to 20% in June).

The number of metalforming companies with a portion of their workforce on short time or layoff dropped in July to 11%-the lowest level since July 2006 when only 10% of companies had workers on short time or layoff.

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

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