November Business Conditions Report: Metal Formers Continue to Experience Supply Shortages
November 22, 2021Comments
Metal forming companies anticipate little change in business conditions during the next three months, according to the November 2021 Precision Metalforming Association (PMA) Business Conditions Report. The report shows that 55 percent of metal forming companies predict no change in general economic activity in the next three months (up from 48 percent in October), 25 percent forecast an increase in activity (compared to 27 percent in October), and 20 percent expect a decrease in activity (compared to 25 percent last month).
Fifty-nine percent of respondents reported an increase in lead times, compared to 58 percent in October.
“PMA members are experiencing brisk business activity but continue to face challenges sourcing needed raw materials,” says PMA President David Klotz. “PMA is concerned with the continued steel supply shortages, which now will only be exacerbated with the new infrastructure bill signed into law earlier this month. In addition, we are concerned that the deal reached this month between the United States and European Union that replaces the Section 232 steel and aluminum tariffs with a tariff-rate quota could lead to market manipulation and allow for gaming of the system that could put our members and other small and medium-sized manufacturers at a disadvantage. Our team in Washington, D.C., will continue to advocate for the termination of these unnecessary and damaging trade restrictions on steel and aluminum.”
See also: Precision Metalforming Association
Technologies: Management
