CLEVELAND-Metalforming companies are anticipating a downturn in near-term business conditions, according to the September 2005 Precision Metalforming Association (PMA) Business Conditions Report. Conducted monthly, the report is an economic indicator for manufacturing, sampling 177 metalforming companies in the United States and Canada.
When asked what they expect the trend in general economic activity to be during the next three months, only 25% of participants reported that business conditions will improve, down from 42% in August, 52% believe conditions will remain the same and 23% anticipate economic activity will decrease, compared to 10% the previous month. These views may be a reflection of the economic uncertainty in the aftermath of Hurricane Katrina.