NEMA’s Electroindustry Business Confidence Index (EBCI) for current North American business conditions rebounded in January following two consecutive months of decline at the close of 2006. The EBCI is a monthly survey of members of the National Electrical Manufacturers Association (NEMA), Rosslyn, Va.
At 41.3, January’s mark rose more than 10 points from a month ago and reached its highest level since October 2006. Though still falling shy of the key 50-point threshold indicative of growth in the industry, the result suggests that the rate of deterioration of the electrical market’s business conditions slowed considerably relative to December.
The EBCI for future North American conditions, a measure of expected conditions six months forward, was nearly unchanged at 47.8 points, compared to a reading of 48 points in December. Though also still slightly below the critical 50-point barrier, January’s reading, taken in conjunction with December’s EBCI, put the index at its highest level since last April.
Both current and future conditions indexes for Europe fell in January. The current conditions EBCI was off only slightly from a month ago at 58.3 points, while the future conditions index tumbled more than 17 points to 40 points. The EBCI for current Latin American conditions dropped more than 15 points in January to 42.3 points from 57.7 points a month ago. The index for future Latin American conditions, though, rose slightly to 66.7 points.
Indicators for the Asia/Pacific region moved in opposite directions relative to December as well, with the current conditions reading rising modestly to 53.6 points and the future conditions measure drifting lower to 62.5 points.