Metalforming companies in the United States anticipate steady business conditions over the next three months, according to the June 2011 Precision Metalforming Association (PMA) Business Conditions Report.
While shipments for the year are up over last year, the metalforming industry saw a steep drop in April orders. PMA President William E. Gaskin attributed the decline to:
• softening industrial and consumer demand
• supply chain interruptions in automotive, a result of the Japan earthquake
Economic Activity. The June report shows that, in the next three months:
• 25% of participant Metalformers forecast improved economic activity (up from 23% in May)
• 50% expect activity to remain unchanged (compared to 55% last month)
• 25% expect activity to decline (up from 22% in May)
Gaskin attributed the flat outlook for the summer months to caution over the strength of the economic recovery.
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