Study: Metalforming business steady

Metalforming companies are forecasting little change in near-term business conditions, according to the October 1 Precision Metalforming Association Business Conditions Report. When asked what they expect the trend in general economic activity to be over the next three months, the response from metalforming companies in October, 26% of participants reported that business conditions will improve...

By Staff November 1, 2005

Metalforming companies are forecasting little change in near-term business conditions, according to the October 1 Precision Metalforming Association Business Conditions Report.

When asked what they expect the trend in general economic activity to be over the next three months, the response from metalforming companies in October, 26% of participants reported that business conditions will improve (compared to 25% in September), 51% believe conditions will remain the same (down from 52% in September) and 23% predict economic activity will decrease (unchanged from September).

Metalforming companies are forecasting a slight drop in orders over the next three months, current average daily shipping levels, however, remain above levels of three months ago. The number of metalforming companies with a portion of their workforce on short time or layoff dropped for the third consecutive month. Only 12% of companies reported workers on short time or layoff in October, compared to 14% in September, 17% in August and 19% in July.