NEMA’s Electroindustry Business Confidence Index (EBCI) for current North American conditions rebounded in August, inching upward to 37 points from 33.3 points in July. Any reading below 50 points indicates poor economic conditions. The index, which is a monthly survey of senior executives at electrical manufacturers published by the National Electrical Manufacturers Association (NEMA), Rosslyn, Va., had declined in each of the two previous months.
Despite the August rise, the index remained firmly within the low 30 points to high 40 points range seen over most of the last 16 months. The EBCI for future North American conditions also reversed its July decline, gaining more than 9 points to reach 40.7 points. Though at its highest level since February, the sub-50 points reading continues to signal expected contraction in the sector over the next half year.
Results were mixed for the other three world regions included in the survey:
- The current conditions reading for Latin America declined to 44.4 points from 50 points, but the future conditions indicator rose to 57.9 points from 47.4 points.
- Current and future indexes for Europe tumbled to 29.4 points from 43.3 points 27.8 points from 36.1 points, respectively.
- The current conditions reading for the Asia/Pacific region slipped to 47.2 points from 50 points, but future conditions climbed to 52.6 points from 40 points.