NEMA’s Electroindustry Business Conditions Index (EBCI) posted a reading of 72.2, with most of the movement coming from a decline in the number of respondents reporting unchanged conditions. Only 22% of panelists saw conditions unchanged in January versus 44% in the previous month’s survey. The survey saw a 6 point increase in those seeing worse conditions, but 61% registered better conditions now compared to 44% in December.
The survey’s measure of the intensity of change in electroindustry business conditions continued to move further into positive territory, as the mean rating increased from +0.4 in December to +0.6 this month. Even the median measure, usually stuck on 0, increased to 1. Panelists are asked to report intensity of change on a scale ranging from –5 (deteriorated significantly) through 0 (unchanged) to +5 (improved significantly).
Optimism for 6 months out was unblemished by even one respondent who expected worse conditions. In December, 6% had expressed misgivings. Combining the absence of expectations for worse conditions with 11% fewer responses foreseeing unchanged conditions boosted the future index to a near-record high of 91.7, NEMA said.
