According to the “May 2015 Precision Metalforming Association (PMA) Business Conditions Report”, metalforming companies in North America expect softening business conditions during the next three months. The report is an economic indicator for manufacturing, sampling 126 metalforming companies in the United States and Canada. The May report shows that 24% of participants predict that economic activity will improve during the next three months (down from 33% in April), 60% expect that activity will remain unchanged (compared to 58% in April) and 16% believe that economic activity will decline (up from 9% in April). Metalforming companies also forecast a decline in incoming orders during the next three months, with 35% predicting an increase in orders (down from 41% in April), 50% anticipating no change (compared to 47% in April) and 15% expecting a decrease in orders (up from 12% in April). Current average daily shipping levels also dipped in May. Thirty-six percent of participants report that shipping levels are above levels of three months ago (compared to 46% in April), 43% report that levels are the same as three months ago (the same percentage reported in April) and 21% report a decrease in shipping levels (up from 11% in April). “PMA’s Business Conditions report for May reflects a typical seasonal adjustment in orders and shipments that generally occurs as we approach the end of Q-2”, said William E. Gaskin, PMA president.
