Business Conditions Survey: More than Half of Metal Formers Predict No Change in Activity

PMA’s March Business Conditions Report reveals that 23% of surveyed manufacturers anticipate an increase in economic activity in the next three months, down from 32% in February, while 54% predict no change in activity—almost no change compared to 55% in February. In addition, 24% anticipate a decline in orders in the next three months, compared to 13% in February, and 40% predict no change—compared to 43% last month.

Current average daily shipping levels moderated somewhat in March after spiking in February, with 35% reporting an increase in shipping levels, up from 30% in February, and 25% reporting a decrease in levels, compared to 19% in February.

“The decline in metal forming manufacturers’ outlook reflects ongoing uncertainty in the market, some of which is tied to evolving trade policy,” says David Klotz, PMA president. “Tariffs—including the Section 232 steel and aluminum tariffs, as well as the potential for new tariffs on imports from Canada and Mexico, and possibly on copper—remain a concern for our members. The Section 232 tariffs are creating supply challenges and driving up the cost of all steel—imported and domestic—for manufacturers. 

“We urge the Trump administration to implement a robust, functional and transparent derivatives process for Section 232 tariffs to ensure that all segments of the manufacturing industry—not just domestic steel producers—are protected and able to compete on a level playing field.”

See also: Precision Metalforming Association

Technologies: Management

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