NEMA’s EBCI Index Continues to Soar in September for Current & Future Conditions

The NEMA’s Electroindustry Business Confidence Index  (EBCI) current conditions component surged to 69.2 points, reflecting a notable improvement among industry stakeholders from a low of 46.7 points earlier this year.
The ElectroIndustry Business Conditions Index (EBCI) is a monthly survey of senior executives at electrical manufacturers published by the National Electrical Manufacturers Association (NEMA), Rosslyn, VA. Any score over the 50-point level indicates a greater number of panelists see conditions improving than see them deteriorating.
Thirty-eight percent of panel members reported that current conditions are “better,” while none indicated a decline, and 62% deemed the situation as “unchanged.” Comments this month presented a mixed bag of sentiments, with some respondents highlighting record levels of quotations while also noting that incoming orders have been somewhat uneven. Panel members noted that while the interest rate reduction has materialized, some are still seeing election uncertainty and cautious customers.
Following a three-year high of 88.5 points in July, the future conditions component has decreased to 80.8 points in Sept. 2024. Despite this decline, it marks the 16th consecutive month of growth. An encouraging 69% percent of panel members expect better conditions in six months, while 23% anticipate conditions will remain unchanged. However, 8% predict worse conditions ahead. Comments from panel members highlighted concerns about election uncertainty and the future volatility of interest and labor rates.