Press Release Summary:
According to electrical equipment manufacturers polled in NEMA's business confidence survey, business environment has improved since December 2009. Electroindustry Business Confidence Index (EBCI) for current North American conditions rose in March 2010 for its third straight month, increasing 7.2 points to 71.7. This may prove small in absolute terms, as average intensity of change in business conditions reported in survey held steady in March at +0.5 on 0 to +5 range.
Original Press Release:
Growing Share of Electroindustrty Firms Report Improved Business Conditions and Future Expectations in March
ROSSLYN, Va.-The business environment has improved markedly since December 2009, according to electrical equipment manufacturers polled in NEMA's most recent business confidence survey. The Electroindustry Business Confidence Index (EBCI) for current North American conditions rose sharply in March 2010 for a third straight month, increasing 7.2 points to 71.7 - its highest level since May 2004.
Nonetheless, though improvement appears increasingly commonplace across the industry, additional evidence suggests that it is likely small in absolute terms. Indeed, the average intensity of change in business conditions reported in the survey held steady in March at a relatively modest +0.5. Intensity of change is reported on a scale ranging from -5 (deteriorated significantly) through 0 (unchanged) to +5 (improved significantly).
Meanwhile, the EBCI for future North American conditions itself gained ground in March, inching upward 0.9 points to also come to rest at 71.7, reflecting widespread sentiment that business conditions will continue to pick up, at least to some degree, over the next six months.
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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