November electroindustry conditions improve for 4th consecutive month, less job loss

NEMA's Electroindustry Business Confidence Index (EBCI) for current North American conditions rallied in November, climbing 2.1 points to 54, the fourth month of growth. See more economic information from the White House, MAPI, and links to prior reports from Control Engineering.

12/04/2009


Fewer jobs lost
"Payroll employment declined 11,000 in November. This is a dramatic improvement from the decline of 597,000 in November 2008 and 741,000 in January 2009. It is by far the closest we have been to stable employment since the recession began almost two years ago," according to Christina Romer, chair of the White House Council of Economic Advisers, in a Dec. 4 blog posting at on the White House site at www.whitehouse.gov/blog/2009/12/04/employment-situation-november.

As of today, manufacturing doesn't appear on the White House web site list of 23 key issues (though energy & environment and technology are on th e list). Science is included under an additional issues category. Manufacturers were mentioned in the Opening Session of the Jobs and Economic Growth Forum, Dec. 3 at www.whitehouse.gov/the-press-office/remarks-president-and-vice-president-opening-session-jobs-and-economic-growth-forum.

 

The Electroindustry Business Confidence Index (EBCI) for current North American conditions rallied in November, climbing 2.1 points to 54, according to the NEMA, the association of electrical and medical imaging equipment manufacturers, on Nov. 28. See separate economic information from the White House, MAPI, and links to prior reports from Control Engineering .
The NEMA index topped the 50-point threshold indicative of improvingconditions for a fourth straight month. By contrast, the EBCI forfuture North American conditions slipped in November for the secondmonth in a row, declining 3.5 points to 58, but continuing to signal anexpected improvement in the business environment over the next sixmonths. The NEMA Electroindustry Business Confidence Index gauges the business confidence of the electroindustry in Asia, Europe, North America, and Latin America, and is based on the results of a monthly survey of senior managers at NEMA member companies. Those companies represent more than 80 percent of the electroindustry, the organization says.
MAPI predicts 2.4% U.S. growth for 2010

In a separate report, The ManufacturersAlliance/MAPI Quarterly Economic Forecast released Nov. 18 predictsthat inflation-adjusted gross domestic product (GDP) will decline 2.5percent in 2009, before rebounding to 2.4 percent growth in 2010, andby 3.5 percent in 2011.

The GDP forecast for all three years in thecurrent MAPI report is marginally better than was previously projectedin August 2009. By supplying major assumptions for the economy andrunning simulations through the IHS Global Insight Macroeconomic Model,the alliance generates macroeconomic and industry forecasts.

Also read from Control Engineering :

- Economy not impacting North American business' carbon commitments ; and

- Manufacturing remains the core of U.S. economic success .

- Edited by Mark T. Hoske, editor in chief, Control Engineering www.controleng.com.



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