The February Precision Metalforming Association report, which is in line with the trend reflected in January’s report shows the following: 45% of participants expect an improvement in economic activity during the next three months; 49% predict that activity will remain unchanged—up from 45% last month; and only 6% report that activity will decline, which is down from 10% in January.
Metalforming companies also forecast steady incoming orders during the next three months. Specifically, 54% anticipate an increase in orders, from 52% in January; 32% expect no change, compared to 38% the previous month; and 14% predict a decrease in orders, up from 10% in January.
Current average daily shipping levels spiked in February with more than half of responding companies indicating that their shipments increased. Fifty-one % of participants report that shipping levels are above levels of three months ago, up from 33% in January; 34% report no change, compared to 53% in January; and 15% reported that shipping levels are below levels of three months ago, up from 14% in January.
“February’s Business Conditions Report continues to reflect improved orders and shipments among metalforming companies,” said William E. Gaskin, PMA president. “Some 86% of respondents expect incoming orders for the next three months to be higher or equal to current levels and 85% expect shipments to be higher or equal to shipments over the past three months. Anecdotal reports from member companies indicate that many companies are recalling at least part of the workforce they had laid off during 2009.”
View the full February 2010 Precision Metalforming Association Report online.