Friday, February 19, 2016
CLEVELAND, OH—February 19, 2016—According to the February 2016 Precision Metalforming Association (PMA) Business Conditions Report, metalforming companies expect a slight uptick in business conditions during the next three months. Prepared monthly, the report is an economic indicator for manufacturing, sampling 123 metalforming companies in the United States and Canada.
The February report shows a minor improvement in economic activity, with 30% of participants predicting that activity will improve in the next three months (up from 29% in January), 57% expecting no change (compared to 52% last month) and only 13% believing that economic activity will decline (down from 19% in January).
Current average daily shipping levels increased in February. Thirty-one percent of participants report that shipping levels are above levels of three months ago (compared to 19% in January), 41% report that levels are the same as three months ago (down from 44% last month) and 28% report a decrease in shipping levels (down from 37% in January).
Metalforming companies also forecast steady incoming orders during the next three months, with 49% anticipating an increase (up from 46% in January), 37% predicting no change (compared to 41% in January) and 14% expecting a decrease in orders (up from 13% last month).
The percentage of metalforming companies with a portion of their workforce on short time or layoff increased to 14% in February, up from 12% in January. The February 2016 figure is higher than this time last year, when only 8% of companies reported workers on short time or layoff.
"Expectations of PMA member companies for modest increases in the general trend of the economy, incoming orders and for current average daily shipping levels over the next three months continued to keep PMA's outlook fairly positive through April 2016, after falling in Q-4 2015," said William E. Gaskin, PMA president. "Rising concern over the global economic situation, along with continued disruption in global energy, mining, steel, agriculture and heavy construction markets all negatively impact manufacturing. However, the U.S. ISM Index continues to hover just below 50, which is still above the level indicating the onset of a recession. The PMA index may well be modestly higher than the general underlying economic situation warrants, because some 40 percent of PMA members are automotive suppliers, a market that continues to ship product at high levels."
The monthly Business Conditions Report has been conducted by PMA since 1979. Full report results are available at http://www.pma.org/public/business_reports/pdf/BCREP.pdf. PMA is the full-service trade association representing the $113-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 nearly 900 member companies also include suppliers of equipment, materials and services to the industry. PMA leads innovative member companies toward superior competitiveness and profitability through advocacy, networking, statistics, the PMA Educational Foundation, FABTECH and METALFORM Mexico tradeshows, and MetalForming, Fabricating Product News and 3D Metal Printing magazines.
Sunday, March 06, 2016
Manufacturing industry groups are tracking a number of key policy issues this year that could have a variety of implications on their West Michigan members.
Those issues range from overarching concerns about health care costs to industry-specific issues such as the use of fire retardants in the office furniture industry to unmanned aerial vehicle (UAV) legislation.
In particular the Michigan Manufacturers Association (MMA) is focusing its efforts on the Health Insurance Claims Assessment (HICA) tax.
The HICA levies a tax on health insurance claims in Michigan and is used to support Medicaid coverage for low-income residents. However, Mike Johnston, vice president of government affairs at MMA, said the legislation unfairly impacts manufacturers and makes Michigan less competitive compared to surrounding states.
The law was set to expire in 2018, but lawmakers extended the HICA sunset date to 2020 as part of a recent set of bills that were spurred by the federal government’s push for states to stop the practice of applying use taxes on managed care organizations, which had contributed to Medicaid funding.
As this story went to press, the legislation was headed to Gov. Rick Snyder’s desk for approval.
Get winning! Enter the $25,000 Get Ready Sweepstakes
Get ready to win! FedEx is giving NTMA Members a chance to win up to $10,000, plus over 100 other prizes, in the $25,000 Get Ready Sweepstakes. Enroll in the NTMA Shipping Program by visiting PartnerShip.com/54ntma, to be automatically entered in the sweepstakes. If you are already enrolled in this free member benefit, simply register for the sweepstakes. Then you’ll have a chance to earn up to 51 additional entries.(1)
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NTMA Members enjoy savings of up to 29% (2) on select FedEx® services. The program is free to join and there are no minimum shipping requirements. What’s more, you may be eligible for other special offers and promotions.
1Limit 52 total entries. NO PURCHASE NECESSARY. Void where prohibited. The $25,000 Get Ready Sweepstakes is sponsored by FedEx Corporate Services, Inc. Open to legal residents of the 50 United States and D.C., 18 or older and a member of an eligible FedEx Advantage® affiliate as of 1/3/16. Begins 1/4/16; ends 2/26/16. For rules, visit smallbusiness.fedex.com/get-ready-rules.
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NTMA members - we’ve got some GREAT NEWS! Your Grainger contract just gotten even BETTER! NTMA has partnered with Grainger to drill down on exclusive NTMA savings that identify the key areas targeted on members’ needs. In addition to 10% off and pre-paid freight on all products, we’ve added product category discounts on the items you use most! Now Grainger offers discounts on over 250,000 metalworking products you need to support both your production and maintenance needs.
Best -in-class cutting tool brands offered at a 25% discount include Sandvik, Walter, Widia, Parlec, OSG, YG1, Guhring, Chicago-Latrobe, Greenfield Tap, etc. Products include turning, milling and threading inserts; high speed and carbide drills as well as endmills, lathe and machining center toolholders, milling cutters, taps, cutting fluids, and abrasives -- all that along with the machining tool accessories.
Exclusive NTMA-member Discounts:
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HVAC: Filters 45% discount
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Safety: Facility 20% discount
Safety: People 20% discount
Grainger has the products you need, right when you need them. Capitalize on your NTMA membership today and SAVE on the product categories you use most. Be sure to use the exclusive NTMA member Grainger website http://www.grainger.com/content/ntma to get this special NTMA discount! For more details, contact Nikki Hunt at email@example.com or 216-264-2858.
Learn about recent changes made to the R&D tax credit and what this means for manufacturers with Black Line Group Principal, Scott Schmidt.
A strategic goal of the NTMA is to highlight the talent and future leadership of our industry. The NTMA received an offer from CliftonLarsonAllen to sponsor and produce a video featuring the Emerging Leaders initiative and NTMA. It is an honor our valued National Associate Member considers NTMA a worthy cause and investment that mirrors their mission of helping clients’ enterprise value and assist in their succession, particularly in small-business manufacturing.
This May, we collaborated with their video production company onsite during the Emerging Leaders Conference in Cleveland to record most of the video footage, including personal interviews of attendees sharing their story as leaders in the manufacturing industry. The response to the production premiere at the NTMA Fall Conference in St. Louis was emotional and moving.
These two productions are designed for your use in promoting manufacturing career awareness, motivation and inspiration; and furthering the Emerging Leaders initiative and the NTMA. We strategically selected Emerging Leaders to participate who have a compelling story and exemplify a future leader of our industry in their own capacity. Please notice those participants and contributors in the video credits, and join us in thanking them for their support and participation by sharing our message with others.
We are Manufacturing!
NTMA, the Faces of Manufacturing
In a series to help employers achieve success in hiring veterans, Guard members and Reservists, the Center for America provides a “business English” explanation of the four federal tax credit incentive programs enacted into law just last December. This guide explains the eligibility requirements for each of the programs, provides step-by-step guidance on how to claim the credits, and even links to the specific government forms an employer needs to submit to claim the credits. This will save employers a great deal of time and effort in receiving the credits, which can add thousands of dollars to the bottom line.
Download CFA 2016 Federal Tax Benefits for Hiring Veterans
Happy 240th Birthday to the United States Marine Corps. On this day in 1775 a few good men got together at Tunn's Tavern in Philadelphia and responded to the Continental Congress' call to raise two battalions of Marines. Semper Fi!
Katy Rosengren is the new Executive Director of the LA Chapter, and has invited us to any LA event. If you're looking for an NTMA event to attend, think about the LA Chapter's events!
Don't forget that CMC is our state advocacy group. James works hard to represent all metalworking in California. Attend one of his roundtables to learn more about how you can impact California Legislation.
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