The November Precision Metalforming Association report shows that 19% of participants anticipate that economic activity will improve during the next three months, up from 15% in October, while 45% predict that activity will remain unchanged, down from 55% last month. By comparison, 36% report that activity will decline (compared to 30% in October).
Metalforming companies expect a slight uptick in incoming orders during the next three months, with 28% anticipating an increase in orders, up from 24% in October, while 39% forecasting no change (compared to 41% last month). One-third of respondents predict a decrease in orders (down from 35% in October).
“Metalforming companies clearly anticipate continued softening for the balance of 2012 and are looking ahead to 2013 with very modest expectations for an uptick in business conditions during the first few months of the new year,” said William E. Gaskin, PMA president. “Results of the presidential election, negative stock market performance, significant concern over how Congress will address income taxes on Sub-S and LLC pass-through companies, and low expectations for how Congress will address the fiscal cliff are major concerns. There also is a growing concern for resurgent regulatory enforcement by EPA, OSHA and other federal regulatory agencies.”
The complete November Precision Metalforming Association report is available online.