PMA Report Shows Metalformers Growing More Optimistic Heading Into 2026

Metalforming manufacturers are signaling increased confidence in economic conditions and order activity as they enter 2026, according to the January Business Conditions Report released by the Precision Metalforming Association (PMA).

Prepared monthly, the report serves as a three-month economic indicator for the manufacturing sector and is based on responses from 82 metalforming companies across the United States and Canada.

Economic Activity Outlook Improves

The January survey results indicate a notable shift in sentiment compared to December. According to PMA:

49% of manufacturers expect an increase in general economic activity over the next three months, up from 26% in December.
43% predict no change, compared to 57% the previous month.
8% forecast a decrease in activity, down from 17% in December.

The data suggests growing optimism within the metalforming industry as companies look ahead to the first quarter of 2026.

Incoming Orders and Shipping Levels Rebound

Manufacturers also reported stronger expectations for incoming orders:

53% anticipate an increase in orders, up from 48% in December.
37% expect no change, compared to 32% the previous month.
10% forecast a decrease in orders, down from 20% in December.

Current shipping levels showed improvement as well. Twenty percent of respondents reported an increase in average daily shipping levels in January, nearly doubling December’s 11%. Meanwhile, 50% reported no change, and 30% indicated a decrease in shipping activity — a significant improvement from 51% reporting decreases in December.

Workforce and Lead Times

Employment indicators also reflected modest strengthening. Six percent of respondents reported workers on short time or layoff in January, down from 9% in December. Additionally, 33% of surveyed companies indicated they are expanding their workforce, compared to 29% the previous month.

Lead times remained steady, with 13% of respondents reporting increased lead times — unchanged from December.

Industry Perspective

In a statement accompanying the report, PMA President David Klotz said the findings reflect resilience among association members and increased optimism for near-term economic growth. He noted that confidence in expanded order activity may be tied to expectations that customers will increasingly source products domestically. He also emphasized that continued optimism is tied to the need for a stable and predictable trade environment that supports long-term investment and planning.

The January PMA Business Conditions Report suggests that while challenges remain, metalformers are entering 2026 with improving expectations for economic activity, orders and workforce growth.