The March Precision Metalformers Business Conditions report shows that 49% of participants forecast an improvement in economic activity during the next three months, compared to 51% in February. Meanwhile, 46% predict that activity will remain unchanged, up from 44% last month. Only 5% feel activity will decline over the short term, the survey showed.
Regarding incoming orders, metalforming companies anticipate seeing solid activity over the next three months. In fact, 52% of participants predict an increase in orders, while 38% anticipate no change. Only 10% of respondents predict a decrease in orders.
“Results of the March Business Conditions Report are quite positive and consistent with results from PMA’s Monthly Orders and Shipments Survey for January,” said William E. Gaskin, president of the Precision Metalformers Association. “Orders and shipments of PMA member companies surged back above their 12-month rolling averages in January. The metalforming industry continues to experience growth in many market areas, with agriculture/off-highway, automotive, defense, medical products and aerospace being among the strongest sectors.”
See the complete PMA Business Conditions Report for more details.