Stable business activity expected for metalforming manufacturers

Pneumatics

Metalformer Business Activity Remains Steady in March 2024

April 11, 2024

Stable business conditions are anticipated for metalforming manufacturers in the coming months according to the March PMA Business Conditions Report.

Sara Jensen

Business activity for metalforming manufacturers continued to be positive in March 2024 according to the latest Precision Metalforming Association (PMA) Business Conditions Report.

The association's March report shows manufacturers anticipate stable economic activity over the next 3 months. Twenty-four percent of respondents to PMA's survey on the subject indicated they expect an increase in activity in the coming months. This is a slight uptick from the 23% who said the same in the February PMA report.

Another 60% of respondents are forecasting no change in activity, down from 61% who said as much in February while for the second month in a row 16% said they are expecting economic activity to decline in the coming months.

Incoming orders in the coming months are likely to stay similar to current levels with just 39% of metalforming manufacturers forecasting an increase in orders in the next 3 months (down from 40% in February). Forty-five percent predict there will be no change in orders, down from 48% who made the same prediction the prior month. And 16% of manufacturers expect to see a decrease in orders which is up slight from the 12% who said the same in February.

After experiencing February's spike, PMA reports there was a dip in average daily shipping levels in March with 32% of manufacturers reporting a decrease which was up from the 30% who reported such in February. The number of manufacturers reporting an increase in shipping levels went from 31% to 24% in March, although 44% reported no change (up from 33% in February).

For hydraulics and pneumatics companies serving the metalforming sector, the continued market positivity could prove beneficial for the fluid power industry as well.

About the Author

Sara Jensen | Technical Editor, Power & Motion

Sara Jensen is technical editor of Power & Motion, directing expanded coverage into the modern fluid power space, as well as mechatronic and smart technologies. She has over 15 years of publishing experience. Prior to Power & Motion she spent 11 years with a trade publication for engineers of heavy-duty equipment, the last 3 of which were as the editor and brand lead. Over the course of her time in the B2B industry, Sara has gained an extensive knowledge of various heavy-duty equipment industries — including construction, agriculture, mining and on-road trucks —along with the systems and market trends which impact them such as fluid power and electronic motion control technologies.

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