North American manufacturers of metalformed products reported that economic conditions would soften over the next three months, despite stable incoming orders and rising shipping levels. That’s according to the latest monthly report from the Precision Metalforming Association (PMA) that sampled 85 such suppliers in the United States and Canada.

The latest PMA Business Conditions Report, issued March 30, found that 28% of surveyed manufacturers expect an increase in general economic activity in the next three months — down from 48% in February. 64% expect no change (53% in Feb.), while 4% expect a decrease (2% in Feb.).

• Metalformers also predict an increase in incoming orders in the next three months, with 51% expecting a rise (57% in Feb.); 45% expect no change (41% in Feb.); and only 4% expect a decrease (2% in Feb.).
• Current shipping levels rose in March for a third straight month. 46% reported an increase in March (34% in February); 48% reported no change (46% in Feb.); and 6% reported a decrease (16% in Feb.)
• On the staffing front, the survey showed only 6% of respondents had workers on short time or layoff in March (2% in Feb.); 39% indicated they are expanding their workforce (36% in Feb.).
• Lead times remained steady during March, with 10% of respondents reporting an increase (11% in Feb.)

“Metalforming manufacturers were already facing higher costs than many overseas competitors before recent developments in the Middle East further increased prices and injected new uncertainty into the global marketplace. Manufacturers are also watching potential trade developments this summer, including uncertainty around the future of the USMCA and the possibility of new tariffs on machinery stemming from the Section 301 investigation. The data suggest that members are closely tracking how these intersecting factors could affect operations and investment decisions.”

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.