PMA Members Expecting Slower Business Conditions

A downturn in business conditions is coming, said participants in the Precision Metalforming Association (PMA) Business Conditions Report for June. Fewer participants are expecting conditions to improve in the next three months (31 percent, down from 33 percent) and more are expecting that economic activity will decline (15 percent, up from 7 percent). PMA president William Gaskin says the downward shift is part of the summer slowdown typical in the manufacturing cycle.

Incoming orders are expected to decline somewhat in the short term during the next three month period. Average daily shipping levels in June declined according to PMA participants, with 46 percent reporting levels are the same as three months ago and 19 percent (up from 15 percent in April) reporting a decrease.