NEMA’s Electroindustry Business Confidence Index (EBCI) for current North American conditions in the electrical market rose for a second straight month in March.
However, at 47.9 points, the EBCI Index, a monthly survey of electrical manufacturers conducted by the National Electrical Manufacturers Association (NEMA), Rosslyn, Va., again lagged the 50-point threshold indicative of industry expansion. Indeed, March’s survey was the fourth consecutive month the EBCI Index did not top 50 points.
March’s results suggest that while the business environment facing electrical equipment manufacturers continues to weaken, the pace of deterioration has slowed markedly since January. By contrast, electrical manufacturers’ March expectations for the next six months saw a sharp reversal. Following a modest gain a month ago, the EBCI for future North American conditions plunged 12.5 points to 33.3 points, its lowest reading since November 2006.
- Both current and future conditions indexes for each of the other three world regions included in NEMA’s EBCI survey surpassed the growth threshold mark of 50 points in March.
- The current conditions index for Latin America climbed to 58.8 points from 53.1 points in February, but the future conditions reading slipped to 55.9 points from 59.4 points a month ago.
- Current conditions in the Asia/Pacific region inched downward to 61.1 from 61.8 points, but future conditions jumped from 58.8 points to 69.4 points.