CLEVELAND, Ohio – Metalforming manufacturers expect economic activity to remain largely unchanged over the next three months, according to the July 2026 Precision Metalforming Association Business Conditions Report. Prepared monthly, PMA’s report provides an economic indicator for the next three months of manufacturing, sampling 85 metalforming companies in the United States and Canada. Workforce indicators also softened in July, with 6% of respondents reporting workers on short time or layoff (up from 1% in June), while the share of companies expanding their workforce fell to 46% (down from 54% in June). Lead times improved in July, with 20% of respondents reporting longer lead times (down from 24% in June). “PMA’s July report reflects that metalformers remain resilient but are becoming increasingly cautious,” said Mark Getsay, PMA managing director.