PMA Report Forecasts Few Economic Changes in Coming Months
The November report shows that 20% of participants forecast an improvement in economic activity during the next three months-the same percentage reported in October- 57% predict that activity will remain unchanged-compared to 54% last month-and 23% report that activity will decline, which is down from 26% in October.
Metalforming companies also expect little change in incoming orders for the next three months. 25% of participants predict an increase in orders-the same percentage as October-50% anticipate no change-compared to 45% last month-and 25% forecast a decrease in orders, down from 30% in October.
However, average daily shipping levels dipped somewhat in November. Only 27% of participants report that shipping levels are above levels of three months ago-down from 32% in October-45% report that shipping levels are the same as three months ago-compared to 49% in October-and 28% report a decrease in shipping levels, up from 19% in October.
The percentage of metalforming companies with a portion of their workforce on short time or layoff dipped to 15% in November from 17% in October. This number is at its lowest level since January 2008 when only 14% of companies had workers on short time or layoff.
The monthly Business Conditions Report has been conducted by PMA since 1979. Full report results are available here.