CLEVELAND — Metalforming manufacturers continue to forecast a decrease in near-term economic conditions, according to the September 2025 Precision Metalforming Association Business Conditions Report.
Prepared monthly, PMA’s report provides an economic indicator for the next three months of manufacturing, sampling 91 metalforming companies in the United States and Canada.
PMA’s September report shows that only 14% of manufacturers surveyed anticipate an increase in general economic activity in the next three months (down from 27% in August), 54% predict no change in activity (compared to 49% in August) and 32% expect a decrease in activity (up from 24% in August).
Metalformers also predict a decline in incoming orders in the next three months, with 27% of survey respondents anticipating an increase in orders (down from 30% in August), 45% expecting no change (compared to 47% last month) and 28% forecasting a decrease in orders (up from 23% reported in August).
Current average daily shipping levels dipped slightly in September, with 31% reporting a decrease in shipping levels (compared to 28% in August), 50% reporting no change (compared to 47% in August) and 19% reporting an increase in shipping levels (compared to 25% in August).
The survey also showed that 11% of respondents had workers on short time or layoff in September (increasing from 8% in August), while 32% are currently expanding their workforce (compared to 34% in August). Lead times decreased in September, with only 13% of respondents reporting an increase in lead times, down from 20% in August.
“September’s PMA Business Conditions Report reflects the headwinds that manufacturers are facing from ongoing global supply-chain volatility,” said PMA President David Klotz. “Our members are hopeful that as trade negotiations conclude, trade policy will stabilize and make planning more predictable.
"An encouraging sign is the strong momentum we saw at the FABTECH tradeshow in Chicago earlier this month. With 879,000 sq. ft. of exhibits and more than 21 million lb. of machinery, FABTECH — the largest metalforming, welding, fabricating and finishing show in North America — was a success, highlighted by the new North American Job Shop pavilion showcasing contract manufacturers producing parts, components and finished products in North America. The show’s success is a sign of the industry’s resiliency.”
Full report results are available at pma.org.
