More electrical manufacturers appear to be feeling a bit more bullish about the economic conditions in the electrical market, as the August data for NEMA’s monthly EBCI Index is firmly in growth territory.
With August’s current conditions reading of 58.3 points, up 4.7 points from July, NEMA’s Electroindustry Business Conditions Index (EBCI) has been at or above 50-point growth threshold for six consecutive months.
The EBCI Index 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 from the electrical market see conditions improving than see them deteriorating.
NEMA reported that 33% of the respondents on its EBCI panel reported better conditions in August, compared to only 21% who responded that way last month. The association said although the share of respondents reporting worse conditions remained low at 17% percent this month, the slight increase over 14% percent in July bears watching in the months to come.
The EBCI Future Conditions Index for August was also up, surging 9.6 points from 57.1 points in July to 66.7 this month. One-third of the EBCI panel members expect conditions to be unchanged in six months, down from 43% in July. The proportion of respondents expecting better conditions rose from 36 percent last month to 50 % now, and only 17% – versus 21% in July – now expect worsening conditions six months ahead.