Press Release Summary:
Dropping to 37 from 47.9 one month ago, NEMA's Electroindustry Business Confidence Index indicates that external conditions facing electrical equipment manufacturers have deteriorated in recent months. By contrast, future conditions reading for North America gained ground, climbing 3 points to 42.6. EBCI gauges business confidence of electroindustry in Asia, Europe, North America, and Latin America, and is based on monthly survey of senior managers at NEMA member companies.
Original Press Release:
Current Conditions EBCI Slides in October, While Future Indicator Rebounds Modestly
ROSSLYN, Va., October 31, 2007-NEMA's Electroindustry Business Confidence Index (EBCI) lost ground in October, dropping by nearly 11 points to 37 from 47.9 a month ago. October was the fourth consecutive month, and the fifth in the last six, in which the index failed to reach 50 points. These results indicate that external conditions facing electrical equipment manufacturers have deteriorated steadily in recent months.
By contrast, the future conditions reading for North America gained ground on the month, albeit modestly, climbing 3 points to 42.6. Notwithstanding October's increase, the index registered below 50 for a second consecutive month, again presaging a weakening of industry conditions over the next six months.
The Electroindustry Business Confidence Index gauges the business confidence of the electroindustry in Asia, Europe, North America, and Latin America, and is based on the results of a monthly survey of senior managers at NEMA member companies. Those companies represent more than 80 percent of the electroindustry.
NEMA is the trade association of choice for the electrical manufacturing industry. 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, medical imaging, industrial, commercial, institutional, and residential applications. Domestic production of electrical products sold worldwide exceeds $120 billion. In addition to its headquarters in Rosslyn, Virginia, NEMA also has offices in Beijing, Sao Paulo, and Mexico City.
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