The current conditions component of the NEMA’s Electroindustry Business Conditions Index (EBCI) moved up from 66.7 in December to 71.4 in January. Fully one-half of the survey panel noted better conditions in January as the share of those indicating an unchanged business environment declined.
The EBCI Index 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 expansionary reading of current conditions in January marked the 16th consecutive month this component topped 50, making it the longest such stretch since before the last recession. NEMA said it’s worth nothing that this upbeat sentiment has yet to materialize in hard data for some segments of the electroindustry such as lighting and manufacturing-related equipment, which have experienced declining shipment numbers reported by the U.S. Census Bureau on a year-over-year basis for most of 2017.
The future conditions component edged down from last month’s 73.3 to match the current conditions number at 71.4. Regardless of the slight decline, January’s results indicated considerable optimism for business conditions in six months.