Press Release Summary:
According to NEMA's Electroindustry Business Confidence Survey, 44% of respondents reported that the economic environment facing the industry in North America deteriorated in most recent month, up from 36% in June. Only 8% reported conditions were better than a month ago in July, down from 27% in June. Electroindustry Business Confidence Index thus dropped to 32 from 45.5 a month ago, remaining below the growth threshold of 50 points for second straight month.
Original Press Release:
Share of Survey Respondents Seeing Improved Conditions Declines in July; Six-month Outlook Firms
ROSSLYN, Va., - The broad economic slowdown of recent months continued to affect the electrical manufacturing sector in July. Forty-four percent (44%) of respondents to NEMA's latest Electroindustry Business Confidence Survey reported that the economic environment facing the industry in North America deteriorated in the most recent month, up from 36% in June. Only 8% reported conditions were better than a month ago in July, down from 27% in June. The Electroindustry Business Confidence Index (EBCI) for current North American conditions thus dropped to 32 from 45.5 a month ago, remaining below the "growth threshold" of 50 points for a second straight month.
In contrast to the July current conditions reading, the EBCI for future North American conditions signaled improving conditions over the next six months. Indeed, the index climbed slightly in July to 64 from a month earlier. Forty percent (40%) of panelists said they expected conditions to improve by the beginning of 2012 versus 12% anticipating conditions will worsen during that time period. In June, 36% of panelists said they expected an improvement in conditions versus less than 9% anticipated a decline.
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 nema.org