ROSSLYN, VA, January 31, 2007-The National Electrical Manufacturers Association's (NEMA) Electroindustry Business Confidence Index (EBCI) for current North American business conditions rebounded in January following two consecutive months of decline at the close of 2006. At 41.3, January's mark rose more than ten points from a month ago, and reached its highest level since last October. Though still falling shy of the key 50-point threshold indicative of growth in the industry, the result suggests that the rate of deterioration of electroindustry business conditions slowed considerably relative to December.
Meanwhile the EBCI for future North American conditions, a measure of expected conditions six months forward, was nearly unchanged at 47.8, compared to a reading of 48 in December. Although also still slightly below the critical 50-point barrier, January's reading, taken in conjunction with December's, put the index at its highest level since last April.
The EBCI (http://www.nema.org/econ/ebci/index.cfm) 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.