Press Release Summary:
According to NEMA's Electroindustry Business Confidence Index, current North American conditions advanced for 3rd straight month, and 4th in last 5, in May. Since Dec 2008, index has rebounded from near record low of 8 to 47.9, within sight of 50-point threshold indicative of absolute improvement in industry conditions. Survey results support view that electroindustry is approaching cyclical trough as steep declines abate and expectations in second half of year improve.
Original Press Release:
North American EBCI Suggests Electroindustry Nearing a Cyclical Trough
ROSSLYN, VA, May 27, 2009 - NEMA's Electroindustry Business Confidence Index (EBCI) for current North American conditions advanced for a third straight month, and fourth in the last five, in May. Since December 2008, the index has rebounded from a near record low of 8 to 47.9, within sight of the 50-point threshold indicative of an absolute improvement in industry conditions.
The future conditions EBCI for North America climbed from 60 in April to 65.2 in May, marking the third straight time the six-month outlook has signaled improvement. This most recent set of survey results supports the view that the electroindustry is approaching a cyclical trough as the steep declines experienced over the past several months abate and expectations regarding the business environment in the second half of the year improve, albeit from depressed levels.
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 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.
NEMA. Setting Standards for Excellence
Visit our website at www.nema.org
NEMA companies are the energy solution leaders for Smart Grid and Energy Storage technologies. Learn more at: www.nema.org/gov/energy/smartgrid/