NEMA’s Electroindustry Business Confidence Index posts sharp increase
Rosslyn, VA —NEMA’s Electroindustry Business Confidence Index for current North American conditions posted a sharp increase in February, climbing to 68.5 points from 55.2 in January. The most recent month’s reading was the strongest since last September and the 34th in a row above the critical 50-point threshold indicative of favorable business conditions. At the same time, the January EBCI for future North American conditions slipped slightly to 53.6 points, down from 56.9 a month ago.
The diffusion of positive sentiment regarding North American business conditions saw its biggest jump in five months as the strength of the electroindustry surprised a number of panelists.
The Electroindustry Business Confidence Index gauges the business confidence of the electroindustry in Asia, Europe, North America, and Latin America, and are based on the results of a monthly survey of senior managers at NEMA member companies. Those companies represent over 80% of the electroindustry.
NEMA is the leading trade association in the United States representing the interests of electroindustry manufacturers. Founded in 1926 and headquartered near Washington, D.C., its approximately 430 member companies manufacture products used in the generation, transmission and distribution, control, and end-use of electricity. Domestic shipments of electrical products within the NEMA scope exceed $100 billion.
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— Richard Phelps , senior editor, Control Engineering