Manufacturers of metalformed products’ February forecast on upcoming activity moderated after several months of increased optimism that began in October 2024, according to a monthly report from the Precision Metalforming Association (PMA)

Prepared monthly, PMA’s report provides an economic indicator for the next three months of manufacturing, sampling 106 metalforming companies in the U.S. and Canada.

MDM’s Virtual AI Summit Set for March 12 – Register Here 

PMA’s February report shows that 32% of surveyed manufacturers predict an increase in economic activity in the next three months (down from 54% in January), 55% expect no change in activity (compared to 54% in January) and 13% anticipate a decrease in activity (up from 11% in January).

Metalformers also forecast steady incoming orders:

• 44% of survey respondents expect an increase in orders during the next three months (compared to 49% in January);
• 43% predict no changes in orders (compared to 38% last month), and;
• 13% anticipate a decrease in orders (unchanged from January).

Current average daily shipping levels spiked in February after increasing in January, with 30% reporting an increase in shipping levels (up from 12% in January), 51% reporting no change (compared to 52% in January) and 19% reporting a decrease in levels (36% in January).

MDM’s SHIFT Conference Coming May 13-15 – Register Here 

The survey also showed that 8% of survey respondents reported a portion of their workforce on short time or layoff in February (12% in January), 34% reported that they are expanding their workforce (compared to 24% last month) and 8% reported an increase in lead times in February (up from 5% in January)

“Metalformers remain optimistic about economic activity over the next three months and are reporting a sharp rise in shipping levels,” PMA President David Klotz said in the release. “However, our members are concerned that the administration’s policies that could strengthen the manufacturing base may be offset by the expansion of steel tariffs and the increase in aluminum tariffs announced earlier this month. History has shown that tariffs that protect only one segment of the supply chain can create significant cost pressures for downstream manufacturers.”

Find the full January PMA Business Conditions Report here.