NEMA Executives Report Sharp Increase in August Business Activity in EBCI Survey

The Current Conditions component of NEMA’s monthly survey of senior executives at electrical manufacturers rebounded in August, rising to 59.1 points after dipping to 50 points in July.  Respondents’ comments reflected a mix of caution and resilience. Some respondents expressed concern and uncertainty around tariffs and the producer price index, while others noted steady demand and reported good sales activity. 

The ElectroIndustry Business Conditions Index (EBCI) is a monthly survey of 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 component edged down to 72.7 points in August from 75 points in July, indicating a slight easing in optimism. Sixty-four percent of respondents expected conditions to be “better” six months from now, while 18% anticipated “worse” conditions, and another 18% saw them remaining “unchanged.”

Comments reflected a mixed outlook as some panelists noted they were looking forward to potential interest rate cuts by the Fed and expected tariffs to settle, while others were concerned about how tariffs may affect demand. Overall, confidence remained solid, though tempered compared with the prior month.