CLEVELAND, OH—January 27, 2026—Metalforming manufacturers anticipate an increase in economic activity and incoming orders in the coming months, according to the January 2026 Precision Metalforming Association (PMA) Business Conditions Report. Prepared monthly, PMA’s report provides an economic indicator for the next three months of manufacturing, sampling 88 metalforming companies in the United States and Canada.

PMA’s January report shows that 49% of manufacturers surveyed expect an increase in general economic activity in the next three months (up significantly from 26% in December), 43% predict no change in activity (compared to 57% last month) and only 8% forecast a decrease in activity (compared to 17% in December).

Metalformers also anticipate an increase in incoming orders in the next three months, with 53% of survey respondents predicting an increase in orders (up from 48% in December), 37% expecting no change (compared to 32% last month) and only 10% forecasting a decrease in orders (down from 20% in December).

Current shipping levels also rebounded in January. Twenty percent of metalformers surveyed reported an increase in current average daily shipping levels in January (up from 11% in December), 50% reported no change (compared to 38% in December) and 30% reported a decrease in shipping levels (down from 51% last month).

In addition, the survey showed that six percent of respondents had workers on short time or layoff in January, decreasing from 9% in December, while 33% are currently expanding their workforce (compared to 29% last month). Lead times remained steady in January, with 13% of respondents reporting an increase in lead times, the same percentage reported in December.

“The January PMA Business Conditions Report shows that our members remain resilient and optimistic that economic activity will improve over the next three months,” said PMA President David Klotz. “With more companies forecasting growth in orders and activity, manufacturers are more confident that customers will look to source more products domestically. That optimism, however, depends on a more stable and predictable trade environment—one that gives manufacturers the certainty they need to invest, grow and plan for the future.”

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.