Metalformers Expect Tough Times
By Metal Center News Staff
on May 15, 2020
Metalforming companies expect the challenging times to continue over the next three months, reports the Precision Metalforming Association, Cleveland, in its latest Business Conditions Report. However, they were slightly more optimistic than they were in the April report.
They May report shows 54 percent of participants predict a decline in economic activity during the next three months, a decrease from the 87 percent in April, while 22 percent expect conditions to improve, an increase from 8 percent in the previous month¡¯s support.
Seventy percent of metalforming companies predict a decrease in incoming orders compared to three months ago, down from 82 percent in April, while 14 percent expect an increase in orders, up from 5 percent last month.
¡°The May report shows that PMA members expect the unprecedented challenges to their businesses created by the COVID-19 pandemic to continue,¡± said PMA President David Klotz. ¡°I am extremely proud of PMA members and also our Washington, D.C.-based advocacy team for helping our members through this time of economic uncertainty.¡±