NEMA's Electroindustry Business Confidence Index (EBCI) for current North American business conditions plummeted in the latest month, falling nearly 18 points. With the August performance coming on the heels of a decline of nearly seven points in July, the index has now fallen by more than 24 points in the space of only two months — from 70.4 points in June to 46 points currently. Any reading above the 50-point level is indicative of growth in the market. The EBCI is a survey of senior executives of the National Electrical Manufacturers Association (NEMA), Rosslyn, Va.

The sub-50 point value — only the second recorded since July 2009 — indicates that across the electrical market more businesses than not saw conditions deteriorate during the month. Indeed, only 24 percent of survey panelists reported that business conditions improved in August compared to a month earlier, versus 38 percent in July and 48 percent in June. By contrast, 36 percent reported conditions worsened in August, compared to 12 percent and 7 percent in June, respectively. Meanwhile, the survey's measure of the intensity of change in current North American conditions suggests that the decreasing pace of improvement seen in recent months came to a halt in August.

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