Association News

Metalforming companies are a little more optimistic about business conditions over the next three months, Precision Metalforming Association reported in its latest release. PMA surveys 96 metalforming companies monthly about the state of the metals supply chain.

PMA’s November report shows 23 percent of the manufacturers predict an increase in economic activity in the next three months, up from 13 percent in October, while 34 percent anticipate a decrease in activity , down from 37 percent.

Metalformers also had a slightly more positive forecast for incoming orders, with 30 percent of survey respondents forecasting an increase in orders during the next three months, up from 24 percent in October. Approximately 30 percent anticipate a decrease in orders, down from 34 percent in October.

“Metalformers continue to demonstrate resilience despite economic uncertainty, driven in part by the delay in reinstating key tax provisions,” said PMA President David Klotz. “These include rolling back the tax on R&D expenditures, restoring the ability to fully deduct those costs and reestablishing 100 percent bonus depreciation.”