Current business conditions in North America improved compared to last month, according to the results of the Electroindustry Business Confidence Index (EBCI) survey of senior executives in the electrical business. The EBCI Index is based on a monthly survey of members of the National Electrical Manufacturers Association (NEMA), Rosslyn, Va.
Having improved from 38.6 points to 50 points in June, the index now sits squarely astride the threshold indicating conditions are favorable to growth. A reading of 50 points or more reflects an optimistic outlook on the part of respondents. Although this month’s score touches but does not cross the growth line, the sharp rebound from May’s reading suggests that May may have been a bit of an aberration.
With June’s score of 60.4 points, the EBCI Future Conditions Index for North America followed a largely positive pattern and remained at or above 50 points for the fifth consecutive month.
The economic outlook is good in global markets, too, according to panelists. Although the other world region indexes experienced some churning, June’s EBCI results mark only the second time this year when all current and future index scores equaled or exceeded the growth threshold of 50 points.
Current conditions in Latin America improved, moving from 53.8 points last month to 56.7 points in June. The future conditions index also improved, climbing 8.5 points to 70 points. Europe fared the worst in the June survey, as the current conditions index fell from 57.7 points to 50 points, while the future conditions measure held steady at 50 points.
The panelists’ view of current business conditions in the Asia/Pacific region is positive, though a bit less so than last month, with the index slipping 3.1 points to 53.6 points. Meanwhile, the future conditions index for the region edged up 0.7 points to 60.7 in June.