Press Release Summary:
NEMA's Electroindustry Business Confidence Index (EBCI) for current North American conditions rose nearly 12 points to 53.3 in August, indicating that the business environment facing electrical equipment manufacturers has improved. A companion measure of change intensity in business conditions, at 0.0, suggested conditions were unchanged in August compared to July. Forecasting future improvement, the North American future conditions EBCI also climbed in August to 68.3.
Original Press Release:
North American Current Conditions EBCI Signals Improvement in August
ROSSLYN, Va., August 26, 2009 - NEMA's Electroindustry Business Confidence Index (EBCI) for current North American conditions jumped nearly 12 points to 53.3 in August, an indication that the business environment facing electrical equipment manufacturers improved during the month.
A companion measure of the intensity of change in business conditions gave slightly less auspicious results. The intensity of change indicator rose to 0.0 on the month, suggesting conditions were essentially unchanged in August compared to July. Intensity of change in business conditions is measured on a scale ranging from -5 (deteriorated significantly) through 0 (unchanged) to +5 (improved significantly).
Meanwhile, the North American future conditions EBCI also climbed in August, rising 1.7 points to 68.3. This marked the highest reading for the future conditions index since August 2005 and implies that a significant proportion of industry executives expect at least some degree of improvement in the business situation within 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 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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