Metalforming companies are equally split on whether business conditions and incoming orders will improve or worsen over the next three months, according to the November business report by the Precision Metalforming Association (PMA).

Twenty-seven percent of PMA members surveyed forecast an improvement in overall economic activity, down from 30 percent in October; 48 percent predict that activity will remain unchanged compared with 54 percent last month; and 25 percent say activity will decline, up from 16 percent in October.

However, the number forecasting a downward trend is much lower than the 70 percent who did so in November 2008, the peak of the gloom that has enveloped the industry over the past two years.

"Business conditions being reported by members are consistent with the uncertainties most...