Much like last month, confidence in business conditions remained in positive territory despite edging down from the previous reading. Even in the face of a half-point slide from 53.3 points in March to 52.8 points this month, the current component stayed above 50 points for now the fourth consecutive month.
The share of those reporting unchanged conditions increased over last month, while the proportion of panel members that noted either better or worse conditions decreased. Comments largely reflected the lukewarm numerical result, as perhaps the most representative remark suggested that “business seems to be good but not great.”
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.
A sharp increase in the share of respondents expecting better conditions pushed the future conditions component up nearly 10 points to 52.8 points in April.