Press Release Summary:
NEMA's Electroindustry Business Confidence Index for current North American conditions slipped to 45.5 in June, dropping below the 50-point growth threshold for the first time since Oct 2010. The index had climbed as high as 69.6 as recently as February 2011, prior to sharp run-up in oil prices and Japan's earthquake and tsunami. EBCI for future North American conditions topped 50-point mark for 28th consecutive month in June, measuring 63.6 for the month, down from 81.8 in May.
Original Press Release:
Business Conditions Lose Steam in June, But Six Month Ahead Outlook Remains Solid
(ROSSLYN, Va.)-NEMA's Electroindustry Business Confidence Index (EBCI) for current North American conditions slipped to 45.5 in June, dropping below the 50-point "growth threshold" for the first time since October 2010. The index had climbed as high as 69.6 as recently as February 2011, prior to a sharp run-up in oil prices and Japan's earthquake and tsunami.
The survey's measure of the degree of change in current North American conditions also edged lower in June, declining to 0.0 from +0.1 in May. 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 topped the 50-point mark for a 28th consecutive month in June. The index measured 63.6 for the month, down from 81.8 in May.
NEMA is the association of electrical and medical imaging equipment manufacturers. Founded in 1926 and headquartered near Washington, D.C., its approximately 450 member companies manufacture products used in the generation, transmission and distribution, control, and end use of electricity. These products are used in utility, industrial, commercial, institutional, and residential applications. The association's Medical Imaging & Technology Alliance (MITA) Division represents manufacturers of cutting-edge medical diagnostic imaging equipment including MRI, CT, x-ray, and ultrasound products. Worldwide sales of NEMA-scope products exceed $120 billion. In addition to its headquarters in Rosslyn, Virginia, NEMA also has offices in Beijing and Mexico City.
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