Association News

Metalformers See Little Change

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Metalforming companies forecast little change in economic activity for the first quarter of 2023, according to the January 2023 Business Conditions Report by the Precision Metalforming Association.

PMA’s January report shows 11 percent of metalforming companies predict an increase in general economic activity in the next three months, compared with 10 percent in December. Thirty percent anticipate a decrease in activity, down from 33 percent in the prior-month survey.

Metalformers are more optimistic on incoming orders, with 25 percent of survey respondents forecasting an increase in incoming orders during the next three months, up from 15 percent in December. Twenty-six percent forecast a decrease, down from 34 percent in the previous month.