Metalforming companies expect a slight uptick in business conditions in the next three months, according to the July 2012 Precision Metalforming Association (PMA) Business Conditions Report.
William E. Gaskin, PMA president, characterized metalformers as having some growing uncertainty but said business conditions are still generally positive and about 70% expect orders and shipments to be the same or higher in the months ahead.
"Economic uncertainties in Europe, slower growth in Asia and political gridlock in the United States are not positive indicators; however, PMA's member companies have experienced 11% growth in orders and 10% higher shipments for the first half of 2012," Gaskin said. "There continues to be strong demand for hiring skilled workers, which are in short supply in most areas of the country.
Gaskin added: "If the White House and Congress would come together to address tax issues critical to the future of manufacturing in the United States, such as providing clarity on long-term tax rates for owners of Sub-S companies and reforming corporate tax policy so companies can make long-term decisions in areas such as R&D spending, it would be very helpful to continued economic recovery."
The report samples 129 metalforming companies in the United States and Canada to serve as an economic indicator for manufacturing.