NEMA’s Electroindustry Business Confidence Index (EBCI) for current North American conditions retreated nearly 13 points in April to 59.1, following a sharp run-up earlier in the year to its highest levels since 2005. Despite the slide seen in the latest month, the index continues to point to an economic environment conducive to industry growth.
The survey’s measure of the degree of change in current North American conditions also suggested a slowdown in the pace of improvement. It dropped to +0.2 in April from +0.7, its highest mark in nearly two years, in February and March. Panelists are asked to report intensity of change on a scale ranging from –5 (deteriorated significantly) through 0 (unchanged) to +5 (improved significantly).
The EBCI for future North American conditions was strongly positive again in April. Though the index declined just over 4 points to 81.8, it remained at the high end of its historic range.
NEMA is the association of electrical equipment and medical imaging manufacturers, founded in 1926 and headquartered in Arlington, Virginia. Its member companies manufacture a diverse set of products including power transmission and distribution equipment, lighting systems, factory automation and control systems, and medical diagnostic imaging systems. Worldwide annual sales of NEMA-scope products exceed $120 billion.