Metalforming companies predict longer lead times in near future
A survey from the Precision Metalforming Association indicates that many metalforming companies expect lead times to continue increasing in the months ahead. The survey, based on reporting from 114 manufacturing companies that are members of the PMA, reflects conditions as they were reported at the beginning of September.
A majority of companies, 56%, expect general economic activity to stay about the same for the next quarter. Another majority, 69%, said shipment activity is up from last September, and just under half of respondents (49%) said daily shipping levels are above where they were 3 months ago.
Average lead times at metalforming companies are increasing with barely any sign of slowing down. Just over six in ten survey respondents said average lead times are longer than they were three months ago. That number fell three percentage points from August, when it read 64%. More than half of PMA members have reported increased average lead times for every month since February 2021 now.
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