Press Release Summary:
Electroindustry Business Confidence Index (EBCI) for current North American business conditions fell nearly 18 points in August. With this performance following decline of nearly 7 points in July, index has now fallen by more than 24 points in 2 months (70.4 in June to 46 currently). EBCI for future North American conditions posted its third consecutive decline, dropping to 54 in August from 57.7 in July.
Original Press Release:
Business Environment Faced by Electrical Equipment Manufacturers Turned Negative in August
ROSSLYN, Va.-NEMA's Electroindustry Business Confidence Index (EBCI) for current North American business conditions plummeted in the latest month, falling nearly 18 points. With the August performance coming on the heels of a decline of nearly 7 points in July, the index has now fallen by more than 24 points in the space of only two months - from 70.4 in June to 46 currently. The sub-50 point value - only the second recorded since July 2009 - indicates, across the electroindustry, more businesses than not saw conditions deteriorate during the month.
The EBCI for future North American conditions posted its third consecutive decline, dropping slightly to 54 in August from 57.7 in July. The index had climbed as high as 77.1 in May, its top level in more than 5 years. Despite its summer-long downslide, the index continues to indicate, if by a shrinking margin, that more panelists than not expect an improvement in the business environment 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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