NEMA’s Electroindustry Business Confidence Index (EBCI) for current conditions in North America rose in June, up from 55.9 points in May to 56.7 points, and continued to show signs of improvement in the business environment by remaining above the 50-point mark for the eighth consecutive month.
The share of respondents who reported conditions improved in June decreased to 33.3% from 47.1% in May while 20% of respondents reported that conditions deteriorated, down from 35.3% in May. The EBCI is a monthly survey of manufacturers’ senior executives published by the National Electrical Manufacturers Association (NEMA), Rosslyn, Va. Any reading over 50 points indicates a growing business climate.
Confidence in future business conditions also rose in June as the EBCI for North American conditions six months from now increased to 83.3 points from 76.5 points in May. Two-thirds of survey respondents said they expect conditions to improve over the next six months, up from 53% in May. Meanwhile, no respondents anticipated a deterioration in the business environment in the coming two quarters, the same number of panelists who held that view in May.