NEMA Execs Voice Concerns About Tariffs on the Electrical Market in March EBCI

The Electroindustry Business Confidence Index (EBCI) published monthly by the National Electrical Manufacturers Association saw one of its sharpest-ever drops, with the majority of NEMA electrical executives concerned about  the impact of tariffs on the electrical market. The EBCI’s current conditions component sharply declined to 21.4 points, following a previous value of 61.5 points  in February. Panel members reported a more negative outlook, with only +7% indicating that current conditions were “better,” down from 38% last month. Nearly two thirds of respondents, 64% , felt conditions were “worse,” while 29% considered them “unchanged.”

The EBCI is a monthly survey of senior executives at electrical manufacturers. Any score over the 50-point level indicates a greater number of panelists see conditions improving than see them deteriorating.NEMA executives continued to express concerns about the ongoing uncertainty surrounding the Trump Administration’s tariffs strategy, contributing to the overall pessimistic view of the EBCI. The future conditions component also saw a significant decrease, dropping to 28.6 points, compared to 69.2 points in February.

Looking ahead, only 21%  of panelists expect “better” conditions over the next six months, while 64% predict “worse” conditions, and 14% anticipate that conditions will remain “unchanged.” The ongoing uncertainty about the potential impact of the administration’s tariffs and policies continues to dominate panelists’ outlooks, with many expressing caution about what the future holds for business.