ROSSLYN, VA, February 28, 2007- February was a healthy month for the electroindustry, and the future appears bright as well, according to senior industry executives responding to NEMA's monthly Electroindustry Business Confidence Survey. Seven of the eight EBCI indices improved from January, while six of the eight, including all four future conditions gauges, flashed readings in excess of 50 points, the threshold level indicative of growth in the industry.
The flagship EBCI index, for current North American conditions, came to rest just at the 50-point mark, meaning the same number of respondents saw conditions improve as saw them decline in February. It was the second straight monthly gain for the index, which had fallen as low as 30 in December. The survey's measure of the mean degree of change in business conditions returned to positive territory for the first time in seven months. Meanwhile, the EBCI for future North American conditions surpassed 50 points for the first time since April of last year. The index climbed sharply to 64.6 from 47.8 in January, suggesting favorable conditions six months forward.
The Electroindustry Business Confidence Index, 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.