Manufacturers of metalformed products anticipate a modestly weaker outlook for economic activity over the next three months, despite an uptick in expected orders and shipping levels. That’s according to the latest monthly report from the Precision Metalforming Association (PMA) that sampled 90 such suppliers in the United States and Canada.
The latest PMA Business Conditions Report, issued Feb. 23, found that 41% of surveyed manufacturers expect an increase in general economic activity in the next three months — down from 49% in January but well above the 26% from December. 53% expect no change (43% in Jan.), while 6% expect a decrease (8% in Jan.).
- Metalformers also predict an increase in incoming orders in the next three months, with 57% expecting a rise (53% in Jan.); 41% expect no change (50% in Jan.); and only 2% expect a decrease (10% in Jan.).
- Current shipping levels rose in February for a second straight month. 34% reported an increase in February (20% in Jan.); 50% reported no change (same in Jan.); and 16% reported a decrease (30% in Jan.)
- On the staffing front, the survey showed only 2% of respondents had workers on short time or layoff in February (6% in Jan.) and at its lowest level since January 2023; 33% indicated they are expanding their workforce (same in Jan.).
- Lead times decreased slightly during February, with 11% of respondents reporting an increase (13% in Jan.)
“PMA’s February Business Conditions Report highlights the resilience of our members,” PMA President David Klotz said in the latest report. “Metalformers continue to benefit from the tax certainty and pro-manufacturing provisions included in the One Big Beautiful Bill Act, including the restoration of 100% bonus depreciation and full expensing of R&D investments. These policies are helping manufacturers invest in equipment and innovation. At the same time, ongoing volatility surrounding tariffs and trade policy — including the implications of the recent Supreme Court decision on IEEPA tariffs — continues to create uncertainty for manufacturers planning for the months ahead. Greater clarity and predictability in trade policy will be critical to sustaining growth.”
PMA is the full-service trade association representing the $137-billion metalforming industry of North America that creates precision metal products using stamping, fabricating, spinning, slide forming and roll forming technologies and other value-added processes. Its more than 900 member companies also include suppliers of equipment, materials and services to the industry.
