PMA Business Conditions Report anticipates steady business.
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Press Release Summary:
Specific percentages of participants from sampling of 134 metalforming companies from USA and Canada who expect economic activity to improve, remain unchanged, and decline during next 3 months are 46%, 49%, and 5%, respectively. Nearly one-half of participants anticipate continued growth in incoming orders during same time period, and companies with portion of workforce on short time or layoff remained steady at 7%. With 53% as majority, average daily shipping levels also rose in March.
Original Press Release:
Business Conditions Report: March 2012
CLEVELAND, OH-According to the March 2012 Precision Metalforming Association (PMA) Business Conditions Report, metalforming companies anticipate steady business conditions during the next three months. Conducted monthly, the report is an economic indicator for manufacturing, sampling 134 metalforming companies in the United States and Canada.
The March report shows that 46% of participants expect economic activity to improve during the next three months (down from 51% in February), 49% predict that activity will remain unchanged (compared to 45% last month) and 5% report that activity will decline (up from 4% in February).
Nearly one-half of metalforming companies anticipate continued growth in incoming orders during the next three months, with 47% forecasting an increase in orders (compared to 56% in February), 47% expecting no change (up from 33% in February) and 6% predicting a decrease in orders (down from 11% last month).
Average daily shipping levels rose in March. Fifty-three percent of participants report that shipping levels are above levels of three months ago (up from 45% in February), 37% report that shipping levels are the same as three months ago (compared to 45% last month), and 10% report a decrease in shipping levels (the same figure reported in February).
The percentage of metalforming companies with a portion of their workforce on short time or layoff remained steady at 7% in March, the same percentage as February. This number is an improvement from March 2011, when metalformers reported 12% of their workforce on short time or layoff.
"The metalforming industry continues to benefit from overall growth in the manufacturing sector of our economy," said William E. Gaskin, PMA president. "Shipping levels are strong and orders continue to grow modestly or hold firm. Reports of difficulty hiring skilled employees are now widespread and companies are becoming more creative in filling open positions, including training current production employees so they can fill more highly skilled positions, and filling lower-skilled positions with new personnel or by using temporary workers."
The monthly Business Conditions Report has been conducted by PMA since 1979. Full report results are available at pma.org/public/business_reports/pdf/BCREP.pdf. 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.
