NEMA’s EBCI Indexes Remain Solidly in Growth Territory in July

Ticking down a nearly-imperceptible 1.4 points, the current conditions component remained firmly in expansion territory at 61.1 points in July. 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 sectors of the electroindustry continued to note robust activity, but many comments suggested a plateau of sorts at an elevated level compared to the pandemic trough. Further expansion may be constrained because of continued uncertainty about the course of the virus and responses to it.

The future conditions component also eased back slightly in July but continued to register well into the expansionary range at 80.6 points. An increase in those expecting worse conditions in six months just edged out the share of respondents anticipating better conditions, driving the 3.8-point decline in the top line number. Respondents largely focused on their expectations that in six months the U.S. election season will be over, and we should have greater clarity regarding the course of the pandemic.