Some indicators for the national economy are negative, as the housing market is still slow in most regions and some measures of capital spending have softened in recent months. But February was a healthy month for the electrical market, according to executives who responded to the monthly Electroindustry Business Confidence Index (EBCI) published by the National Electrical Manufacturers Association (NEMA), Rosslyn, Va.
The future looks good, too, according to these manufacturers. Seven of the eight EBCI indexes improved from January (and the eighth was unchanged), while six of the eight, including all four future conditions gauges, topped 50 points, the threshold level indicative of growth in the industry.
The EBCI for current North American conditions hit the 50-point mark, meaning the same number of respondents saw conditions improve as saw them decline in February. It was the second straight monthly gain for the index, which had fallen to as low as 30 points in December.
Respondents were bullish about the future, as the EBCI for future North American conditions surpassed 50 points for the first time since April of last year. The index climbed sharply to 64.6 points from 47.8 points in January, suggesting favorable conditions six months forward. Other results from the February survey:
Current conditions for Latin America rose slightly to 42.9 points, while future conditions were unchanged at 66.7 points.
Current and future conditions in Europe rebounded from last month, to 81.8 points and 63.6, points respectively.
Current conditions for the Asia/Pacific region climbed 3.7 points to 57.1 points, while future conditions rose 6.7 points to 69.2 points.