Manufacturers of metalformed products are showing a slight decline in optimism for economic activity over the next three months, according to a monthly report from the Precision Metalforming Association (PMA).

The latest PMA Business Conditions Report, issued Aug. 21, found that 27% of surveyed manufacturers expect an increase in general economic activity in the next three months — unchanged from July’s 27% mark.

While still relatively pessimistic and flat, the latest figure is still an improvement from the 16% of respondents who expected an increase in both April and May.

Meanwhile, 49% of Aug. respondents expect no change in activity (54% in July) and 24% expect a decrease, a further decline from 19% in July.

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The report showed that metalformers also expect a decline in incoming orders over the next three months, with 23% of respondents affirming that outlook (18% in July), while 47% expect no change (46% in July) and 30% expect an increase (36% in July)

Current average daily shipping levels held relatively steady in August, with 47% of respondents reporting no change in shipping orders (50% in July), 25% reporting an increase (23% in July) and 28% reporting a decline in levels (27% in July).

Other notes:

• On the staffing front, only 8% of respondents reported having workers on short time or layoff in August (no change vs. July), while 24% indicated they are expanding their workforce (36% in July)
• 29% of respondents reported an increase in lead times in August, up from 18% in July

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“PMA’s August Business Conditions Report shows more members anticipating a decrease in economic activity,” PMA President David Klotz said in the association’s August report. “This likely reflects concern about the difficulty of planning during a period of ongoing trade negotiations and new tariffs on critical inputs. The 50% tariffs on steel, aluminum and copper, in particular, may create supply challenges since U.S. producers cannot supply enough of these materials to meet demand.”

See the full August PMA Business Conditions Report here.