PMPA Business Trends September 2020

 

Our Shops Are Proving to be “Essential Manufacturing” to the Economic Recovery!

September Precision Machining Industry Sales Rate of Growth Accelerates 8.4% over August as

Federal Reserve’s Industrial Production Index Fell 0.6%, Manufacturing Output fell 0.3%

All sentiment indicators increased or remained level for the fifth consecutive month.

 

 

PMPA BUSINESS TRENDS SEPTEMBER 2020

2020 Annual Meeting Speaker Videos Now Available

 

We realize that many of our PMPA members were unable to travel and join us at the Big Cedar Lodge in Ridgedale, Missouri, October 22-25 for the 2020 Annual Meeting.  We also realize that this year’s Annual Meeting provided great speaker content on topics that were relevant (PPP loans) and timely (2020 Election update) and will offer you insights on how to pivot your company out of the pandemic.  

 

All of the speaker presentations were recorded, and we are offering you the opportunity to purchase the video viewing rights at a bundled price of $300.00. 

 

Once you purchase (or “register” for) the videos, you will receive an email with a unique URL link and password to a landing page containing all the presentation videos. The videos will be available on that page until December 15, 2020.

Questions? Contact Renee Merker (gro.apmp@rekremr) or Joe Jackson (gro.apmp@noskcajj) at PMPA 440-526-0300

CLICK HERE TO PURCHASE THE ANNUAL MEETING SPEAKER VIDEOS

PMPA’s Latest Membership Manufacturing Survey Results

Thanks to the 72 companies that responded to our latest request for updated information about your shops’ current status and expectations going forward.

We have forwarded these results to our team at The Franklin Partnership who will use this to help craft policy in Washington D.C.

Typically we share some inferences from our work, but this survey is clear and hardly needs any additional sensemaking.  However, the fact that 86% of shops have no skilled employees on furlough, (Question #4) and 36% of respondents are actively seeking skilled workers right now (Q #5) are convincing evidence of our positive future.  

Here are some other very interesting points to consider:

  • The dearth of applications for employment (Q #7) is reported by half of our shops – attributed to very generous unemployment payouts.
  • We found the fact that 2/3 of our shops reported no confirmed cases of COVID-19 (Q #9) to be interesting.
  • ~35% of shops reported some Reshoring activity, though at small dollar amounts (Q #11 & #12)
  • 88% of respondents reported PPP loans (Q #13) which permitted retention of employees according to 89% of respondents (Q #15)
  • PPP Loan Forgiveness remains a mystery and an important one to be solved for our member companies….
  • 86% of respondents would seek another forgivable PPP loan as described in (Q #18)

Again, thanks to those companies who took the time to respond and share with the rest of us their current status.

PMPA MANUFACTURING SURVEY RESULTS #5

 

 

PMPA Welcomes Two New Affinity Partners

 

PMPA is pleased to welcome two new Affinity Partners to benefit our member companies: 

APPI Energy provides members an opportunity to save on energy costs and have access to energy audits, LED lighting, solar panel installations and utility bill management.

SEE HOW APPI ENERGY CAN BENEFIT YOU

 

Paperless Parts offers members sales and quoting platforms for job shop manufacturers which provide key digital quoting capabilities and educational tools. Sign up for their October 15th introductory webinar and visit the PMPA website to learn more about the benefits they can offer.

 

SEE HOW PAPERLESS PARTS CAN BENEFIT YOU

 

SIGN UP FOR PAPERLESS PARTS WEBINAR