Senior executives managing member companies of the National Electrical Manufacturers Association (NEMA), Rosslyn, Va., said in the monthly survey for the Electroindustry Business Confidence Index (EBCI) that business conditions improved for the sixth month in a row in April. The EBCI for current North American conditions measured 57.1 points, indicating that electrical manufacturers still believe the electrical market is in growth mode. While down slightly from the 60.9 mark recorded in March, a reading above 50 points indicates more panelists reported better conditions compared to the previous month than reported worse conditions.
Nearly 30 percent of survey panelists reported improved conditions in April, down appreciably from almost 44 percent in March. At the same time, though, only about 14 percent of panelists reported conditions deteriorated, down from almost 22 percent previously. The balance of panelists – 57 percent – reported conditions were unchanged in April. The EBCI for future North American conditions increased in April, climbing to 85.7 from 82.6 in March. More than 71% of panelists expect to conditions will improve during the next six months, while none of the 21 respondents anticipate deterioration during that time period.
The EBCI Indexes for both current and future market conditions in global markets were mixed. Europe saw declines of 10 points and 12.1 points for current and future conditions, respectively, but remained solidly in growth territory, as you can see in the chart below. Current conditions in the Latin American region were up 9.3 points in April, but future conditions were down 2.9 points. The Asia-Pacific region saw declines of 0.2 points for current conditions and 13.3 points for future conditions.