NEMA’s Electroindustry Business Confidence Index (EBCI) for current North American conditions slipped to 33.3 in July, a decline of more than 4 points from a month ago.
The index has trailed the 50-point threshold — a level indicative of deteriorating industry conditions — in each month since November 2007. Over that period, index values have moved in a relatively tight range between the low 30s and high 40s, signaling an extended period of weak business conditions even as other measures of electroindustry shipments and production have remained largely healthy. The EBCI is a monthly survey of senior executives at electrical manufacturers published by the National Electrical Manufacturers Association (NEMA), Rosslyn, Va.
The EBCI for future North American conditions reversed a short string of gains in July, dropping more than 6 points to 31.25. Though still in excess of April’s 19-month low of 29.5, the index continues to paint a dour picture of the electroindustry business environment over the next half year.
Panelists were less upbeat this month in their assessments of current conditions and future growth prospects for the other three world regions included in the EBCI survey:
- Current and future conditions readings for Latin America declined to 50 and 47.4 points, respectively.
- Current and future conditions readings for Europe tumbled to 43.3 points and 36.1 points, respectively.
- Current and future conditions readings for the Asia/Pacific region slid to 50 points and 40 points, respectively.