Last week, the National Electrical Manufacturers Association (NEMA) released its latest Electroindustry Business Conditions Index (EBCI), which reported an erosion in business conditions for North American electrical industry manufacturers in February. The EBCI fell to 44.4 from 50 the previous month.
Compared to January, fewer panelists reported an improvement in business conditions for the period, at 22 percent versus 41 percent. Similarly, fewer cited a deterioration in business conditions for the period, at 33 percent versus 41 percent in January. However, 44 percent of panelists said conditions were unchanged in February, versus 18 percent in January.
The survey also measures the intensity of change in the electroindustry. That mark slipped slightly from -0.1 in January to -0.2 in February. Panelists are asked to rate the intensity of change on a scale from -0.5 (deteriorated significantly) to 0 (unchanged) to +5 (improved significantly).
Looking forward, the EBCI for North American industry business conditions over the next six months dipped for the period from 67.6 in January to 52.8 in February as one-third of the panel reported positive expectations compared to last month’s majority of 53 percent. Twenty-eight percent reported negative expectations for the coming six months compared to 18 percent that did so in January.
The report is based on responses from 18 panelists who are senior managers at NEMA member companies.
Check back next month to read the March report.