No Changes in Metalforming Industry, Business Report Says

Precision Metalforming Association (PMA) released their November 2010 Business Conditions Report disclosing unchanged business condition in the industry over the next three months. The report was generated from a sampling of 137 metalforming companies across US and Canada. The metalforming industry is a vital industrial sector contributing significantly to US economy by providing thousands of jobs especially in Illinois, Michigan, Ohio and Connecticut where metalforming is strong.

The Business Conditions Report is a monthly report issued by the PMA since 1979. The November report revealed that 57% of respondents predicted that activity will remain unchanged, compared to 54% last month. 23% believed that the activity will further decline while 20% forecasted an improvement in economic activity during the next three months.

PMA President William E. Gaskin said that metalforming companies have generally experienced a solid recovery in orders and shipment during the past 15 months. However, he mentioned that a seasonal decrease is expected in December due to holidays, then slow and steady recovery months after.