TUBE SHOW 2024 Information - Metal Casting Industry Expected to Remain Stable in Early 2024

TUBE SHOW 2024 extracted data from the Business Conditions Report of the Precision Metalforming Association (PMA) for January 2024. The report indicates that the metal casting industry maintained stability in the early months of 2024, and it presented a relatively optimistic view of monthly business activities. The sample report covers 121 metal casting companies in the United States and Canada and is updated monthly, providing a reference indicator for the manufacturing industry's development trend over the next three months.

The report for January showed that 60% of metal casting companies expect no changes in overall economic activity over the next three months (compared to 57% in December), 20% of companies expect an increase in activity (higher than 13% last month), and 20% predict a decrease in activity (lower than 30% in December).

Some manufacturers in the metal processing industry also predict an increase in received orders. TUBE SHOW 2024 learned that 34% of businesses expect their orders to increase in the next three months (higher than 29% in December), 45% predict no change in orders (compared to 41% in December), and 21% predict a decrease in orders (lower than 30% in December).

In January, the average daily shipment volume remained stable, with 44% of companies reporting no change in shipment levels (compared to 43% in December), 40% reported a decrease in shipment volume (lower than 43% last month), and 16% reported an increase in shipments (compared to 14% in December).

Furthermore, 6% of companies had some temporary hiring in January, as well as some personnel changes (compared to 7% in December), while 37% of companies are currently expanding their staff size (the same ratio as reported in December).

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