NEMA’s EBCI Index Bounce Back in August

The current conditions component of NEMA’s EBCI Index crept up to growth territory this month, bouncing back from August’s 41.2 points to reach an index value of 50 points in September. Although a preponderance of panel members still reported unchanged conditions, the share of responses indicating better conditions edged up several percentage points. With only brief exceptions, this measure has remained largely range-bound in the low 50s to upper 40s since mid-2018.
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.
Staging an even stronger upward move than the current component, the future conditions indicator nevertheless remained below 50 points for the fifth month in a row. Having fallen last month to its lowest point since late 2008, the nearly 13-point gain for future conditions is at an index value of 39.3 points in September.