NEMA’s EBCI Index for Current Conditions Holds Steady in July at 57.7 Points

The current conditions component in NEMA’s ElectroIndustry Business Conditions Index (EBCI) remained steady at 57.7 points in July, the same value reported in June. Sixty-nine percent of respondents described current conditions as “unchanged” while 23%  considered them better. Comments from panel members reflect this stability, with some noting improvements in orders, while others reported having excess inventory.
The ElectroIndustry Business Conditions Index (EBCI) is a monthly survey of senior executives at electrical manufacturers published by the National Electrical Manufacturers Association (NEMA), Rosslyn, VA. Any score over the 50-point level indicates a greater number of panelists see conditions improving than see them deteriorating.
In July 2024, the future conditions component reached 88.5 points, marking the 14th consecutive month of expected growth in the period six months ahead and the highest value we have seen since 2Q 2021.
Over three-quarters of the panel members predicted “better” conditions, and none indicated that they foresee “worse” conditions in six months from now. Comments on conditions in the next six months were optimistic, with expectations for reduced inventory levels and interest rate reductions.
Note: Future conditions index for June unavailable.