CLEVELAND, OH—December 22, 2025—Metalforming manufacturers are expressing optimism for improved economic activity and increased orders in the first quarter of 2026 despite a decline in current shipping levels, according to the December 2025 Precision Metalforming Association (PMA) Business Conditions Report. Prepared monthly, PMA’s report provides an economic indicator for the next three months of manufacturing, sampling 82 metalforming companies in the United States and Canada.

PMA’s December report shows that 26% of manufacturers surveyed anticipate an increase in general economic activity in the next three months (up from only 14% in November), 57% predict no change in activity (compared to 51% last month) and 17% expect a decrease in activity (compared to 35% in November).

Metalformers also forecast an increase in incoming orders in the next three months, with 48% of survey respondents anticipating an increase in orders (up from 31% in November), 32% expecting no change (compared to 36% last month) and only 20% predicting a decrease in orders (down from 33% in November).

This increased optimism is despite a decline in current shipping levels. Only 11% of metalformers reported an increase in current average daily shipping levels in December (down from 21% in November), 38% reported no change (compared to 39% in November) and 51% reported a decrease in shipping levels (up from 40% last month).

The survey also showed that nine percent of respondents had workers on short time or layoff in December, decreasing from 14% in November, while 29% are currently expanding their workforce (compared to 26% last month). Lead times increased in December, with 13% of respondents reporting an increase in lead times compared to nine percent in November.

“As we look toward 2026, our members are feeling confident about the year ahead,” said David Klotz, president of the Precision Metalforming Association. “That confidence reflects the resilience metalforming manufacturers demonstrated in 2025—and that resilience is already translating into plans for increased economic activity in early 2026. What manufacturers need now is greater certainty and a more stable policy environment to sustain this momentum. We remain optimistic that the year ahead will bring policies that strengthen domestic manufacturing, and we will continue advocating for that stability through our advocacy team in Washington, D.C.”

Full report results are available at https://www.pma.org/public/business_reports/pdf/BCREP.pdf.

PMA is the full-service trade association representing the $137-billion metalforming industry of North America—the industry that creates precision metal products using stamping, fabricating, spinning, slide forming and roll forming technologies, and other value-added processes. Its more than 900 member companies also include suppliers of equipment, materials and services to the industry. PMA leads companies toward superior competitiveness and profitability through advocacy, networking, statistics, the PMA Educational Foundation, FABTECH tradeshows and MetalForming magazine.