Bearing in mind that the EBCI is a survey of senior executives at NEMA electrical manufacturers that measures perceived changes relative to a prior time period, the current conditions component for June marked a vast improvement versus May, gaining 30 points to 62.5. The June result validated the assumption that conditions facing the electroindustry hit bottom in April, and expansion relative to that low point and a dismal May has begun.
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.
Some corners of the industry have thrived throughout the pandemic and continued to do so. Even among those sectors that had struggled, the tone of comments improved in June reflecting an assessment that “business is still spotty but the level of day-to-day activity is picking up.”
Eighty-one percent of respondents indicated that they expect better conditions in six months, as the future conditions component expanded from 70.6 points last month to 84.4 points in June. Only 6% of the survey panelists expected conditions to remain unchanged.