Metal Formers End the Year with Optimism
December 20, 2024Comments
Metal forming manufacturers express increased optimism heading into the new year, with more manufacturers predicting an increase in economic activity during Q1 2025, according to the December 2024 Precision Metalforming Association (PMA) Business Conditions Report. PMA’s December report shows that 30% of manufacturers predict an increase in economic activity in the next three months (up from 23% in November and 13% in October), while only 21% anticipate a decrease in activity, down from 34% last month.
Metal formers also forecast an increase in incoming orders, with 34% of survey respondents forecasting an increase in orders during the next three months (compared to 30% in November), and just 19% anticipating a decrease in orders, down from 30% in November.
The survey also shows that 12% of respondents have a portion of their workforce on short time or layoff, down from 14% in November, while 24% say they are expanding their workforce compared to 26% last month.
“As we head into 2025, our members express a sense of cautious optimism,” says PMA president David Klotz. “Metal formers are hopeful that a new Congress and administration will prioritize important tax provisions including reinstating R&D expensing and restoring 100% bonus depreciation, reducing unnecessary regulations and fostering an environment that supports manufacturing growth. Members urge policymakers to consider the full supply chain when shaping trade and economic policies to ensure the continued strength and competitiveness of U.S. manufacturing.”
See also: Precision Metalforming Association
Technologies: Management
