Forecast: Shipping Levels Tick Up, While Activity Expected to Decline Over the Next 3 Mo.
April 24, 2025Comments
The economic outlook of metal forming company executives continued to decline for the third consecutive month, according to the April 2025 Precision Metalforming Association (PMA) Business Conditions Report. PMA’s April report reveals that only 16% of the manufacturers surveyed anticipate an increase in economic activity during the next three months, down from 23% in March, and 37% expect a decrease in activity, up from 23% in March. They also forecast a drop in incoming orders, with 26% anticipating a decline in orders during the next three months, up slightly from 24% in March, and 27% expecting an increase in orders, down from 36% reported in March.
However, current average daily shipping levels showed a modest rebound in April, with 44% reporting an increase in shipping levels, up from 35% in March, and only 15% reporting a decrease in shipping levels, compared to 25% in March. The survey also showed that only 4% of respondents had workers on short time or layoff in April, down from 12% in March, while 34% are currently expanding their workforce—the same percentage reported in February and March.
“Metal formers are navigating continued economic uncertainty, with declining confidence in near-term conditions and softening order volumes,” says PMA President David Klotz. “Ongoing unpredictability surrounding U.S. trade policy likely is a major factor behind these forecasts—particularly the widening gap between U.S. steel prices and those in the rest of the world. Some see increased interest from customers looking to reshore production as a result of the tariffs, which is encouraging. However, proposals to eliminate critical programs, such as the federal Manufacturing Extension Partnership, are deeply concerning. If we want to strengthen domestic manufacturing and compete globally, we need continued support for programs that help small and medium-sized manufacturers modernize and innovate.”
See also: Precision Metalforming Association
Technologies: Management
