Metal forming companies remain cautious as economic challenges continue

Metal forming companies reported a slight improvement in business conditions but continue to anticipate challenges during the next three months, according to the August 2020 Precision Metalforming Association (PMA) Business Conditions Report. Prepared monthly, the report provides an economic indicator for manufacturing, sampling 112 metal forming companies in the U.S. and Canada.

The August report shows that 38% of metal forming companies predict an improvement in economic activity during the next three months (the same percentage reported in July), 45% expect no change (compared to 39% last month), and 17% anticipate a decline in activity (a decrease from 23% in July).