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EBCI Index for Future Economic Conditions in North America Jumps 15.6 Points in March
The Electroindustry Business Confidence Index (EBCI) for future North American conditions posted a sizable gain in March, jumping 15.6 points from February to 52 points. The EBCI is a monthly survey of electrical manufacturers published by the National Electrical Manufacturers Association (NEMA), Rosslyn, Va.
That performance marked the index’s first foray above the 50-point growth threshold since August 2007. While this result hardly points toward a return to the vibrant growth of 2004 to mid-2008, it does imply that the balance of the EBCI survey panel expects a mild improvement in the absolute level of business conditions over the next six months, providing an early sign that the electroindustry may at least be in sight of bottom.
Despite the bullish outlook for future conditions, the EBCI for current conditions slipped slightly in March, declining to 26 points from 27.3 points a month ago. Though it remained near February’s recent high-water mark, the EBCI index continued to signal a protracted period of very poor business conditions. Indeed, March’s EBCI reading for current conditions was the 16th in a row to lag below the break-even mark of 50 points.
The three international markets in the EBCI all had scores under 30 points for current conditions, indicating that survey respondents still are suffering from an ongoing steep contraction in global markets. However, the electrical markets in Latin America, Europe and Asia Pacific all registered gains in the EBCI for future conditions. The Asia/Pacific region was leading the pack with a gain to 50 points for the first time since August 2008.