June Business Conditions Report Predicts Little Change for Metalforming
The monthly report conducted by the PMA indicates stable business conditions.
According to the June 2013 Precision Metalforming Association (PMA) Business Conditions Report, metalforming companies expect little change in business conditions during the next three months. The monthly report samples 117 metalforming companies in the United States and Canada.
The June report shows that 59 percent of participants predict that economic activity will remain unchanged during the next three months (compared to 63 percent in May). Meanwhile, 28 percent believe that activity will improve (up from 23 percent in May) and 13 percent forecast that activity will decline (compared to 14 percent in May).
Metalforming companies also expect incoming orders to remain fairly steady during the next three months, with 31 percent anticipating an increase in orders (down from 34 percent in May), 52 percent predicting no change (compared to 47 percent in May) and 17 percent expecting a decrease in orders (down from 19 percent in May).
Average daily shipping levels decreased in June. Thirty-two percent of participants report that shipping levels are above levels of three months ago (down from 41 percent in May), 44 percent report that shipping levels are the same as three months ago (compared to 41 percent in May), and 24 percent report a decrease in shipping levels (up from 18 percent in May).
The percentage of metalforming companies with a portion of their workforce on short time or layoff increased to 12 percent in June, up from 11 percent in May. The June figure is lower than it was one year ago, when 14 percent of metalformers reported workers on short time or layoff.
Accroding to the PMA, orders are tracking modestly higher compared to the first half of 2012, while shipments have fallen about five percent compared to 2012 for its member companies.
Report results are available at pma.org/public/business_reports/pdf/BCREP.pdf.