Association News

Metalforming companies showed increased optimism about business conditions as the year ended, the Precision Metalforming Association reported. The PMA releases a monthly Business Conditions Report based on surveys of 96 metalforming companies in the U.S. and Canada.

PMA’s December report shows 30 percent of the manufacturers responding to the survey predict an increase in economic activity in the next three months, up from 23 percent in the November report and 13 percent in October. Twenty-one percent anticipate a decrease in activity, down from 34 percent in November.   
 
Metalformers also forecast an increase in incoming orders, with 34 percent of survey respondents expecting improvement in orders during the next three months, up from 30 percent in November. Only 19 percent anticipate a decrease in orders, down from 30 percent in November.

However, current average daily shipping levels in December dropped after rebounding in November, with 4 percent reporting a decrease in shipping levels, up from 33 percent the previous month, while 16 percent reported an increase in levels, down from 26 percent in November.

“As we head into 2025, our members are feeling a sense of cautious optimism,” said David Klotz, president of the Precision Metalforming Association. “Metalformers are hopeful that a new Congress and Administration will prioritize important tax provisions including reinstating R&D expensing and restoring 100 percent bonus depreciation, reducing unnecessary regulations and fostering an environment that supports manufacturing growth.”