State spring manufacturers are among those expressing near-term optimism in the metal forming industry, according to the Hartford Courant and an industry publication.
According to a January news release from the Precision Metalforming Association (PMA), 131 metal forming companies sampled in a monthly survey predicted a 4% to 6% growth rate for their industry in 2013. About one-third of those sampled believed that economic activity will improve in the first quarter, compared to 22% of those who responded a month earlier.
“Modest growth” in the automotive industry, coupled with a “strengthening” housing and construction market “support the modest optimism expressed by PMA member companies,” the association stated.
The Courant article found similar optimism among state companies, including Farmington’s Connecticut Spring and Stamping. Sales at that firm increased 27% last year, a spokesman said.
