NEMA’s Current Conditions Index Deteriorates in April to Below 20 Points

NEMA’s Current Conditions Index declined again in April, falling to 16.7 points from 21.4 points in March, indicating continued deterioration in sentiment. This the lowest EBCI reading Electrical Marketing’s editors can remember.
None of the panelists reported improved conditions, while 67% said conditions were “worse,” and 33% reported them as “unchanged.” Ongoing uncertainty and concerns about the impact of tariffs remained the dominant issues cited by panelists.
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.

The Future Conditions Index rose to 50 points in April from 28.6 points in March, reflecting a more balanced but cautious outlook. Panelists were evenly split, with 50% expecting “better” conditions six months from now and 50% anticipating “worse” conditions six months from now. Comments were mixed but somewhat optimistic and hopeful that the recent unrest would be resolved in six months. Still, uncertainty remained high, particularly regarding the long-term impact of tariffs and ongoing policy shifts.