Metal Formers Forecast a Rise in Average Daily Shipping LevelsSeptember 22, 2022
According to the September 2022 Precision Metalforming Association (PMA) Business Conditions Report, metal forming companies, while continuing to expect little change in business conditions for the next three months, report a rebound in average daily shipping levels. Thirty-two percent of those surveyed report an increase in shipping levels (compared to 19 percent in August), while only 17 percent report a decrease in shipping levels (compared to 30 percent in August).
Sixty percent of surveyed companies anticipate no change in general economic activity in the next three months (compared to 52 percent in August), 11 percent forecast an increase in activity (the same percentage reported in August), and 29 percent predict a decrease in activity (down from 37 percent last month).
- 19 percent forecast an increase in incoming orders during the next three months (up slightly from 17 percent in August)
- 27 percent anticipate a decrease in orders (down from 34 percent in August).
“Metal formers continue to expect fairly steady business conditions in the last quarter of the year,” says PMA President David Klotz. “Our members anticipate little change in current economic activity and shipping levels seem to be steadying after declining the last several months. What is striking is that the report shows that more than six in 10 members are expanding their workforce and trying to find workers to fill these jobs. PMA continues to assist members in promoting the great careers that can be found in manufacturing through our workforce development program. For example, the PMA Educational Foundation (PMAEF), in partnership with 14 PMA districts, is providing scholarships of $1000 or more to high school seniors and others who are training for careers in manufacturing.”
See also: Precision Metalforming Association