June 2020 "Business Conditions Report" shows optimism for improved conditions

Metal forming companies predict improved business conditions during the summer months, according to the June 2020 PMA "Business Conditions Report." Prepared monthly, the report provides an economic indicator for manufacturing, sampling 115 metal forming companies in the U.S. and Canada.

For the first time since the initial effects of the coronavirus pandemic impacted the U.S. economy, metal forming companies expressed optimism about the trend of economic activity and incoming orders. The June report shows that PMA members expect an improvement in business conditions compared to April and May. Fifty-three percent of participants predict an improvement in economic activity during the next three months (increasing from 22% in May), 27% expect no change (increasing from 24% last month), and 20% anticipate a decline in economic activity (decreasing significantly from 54% in May).