Press Release Summary:
NEMA's Electroindustry Business Confidence Index for current North American conditions fell for second straight month in July, declining by more than 4 points to 33.3. Index has spent 13 of last 15 months at or below 50 points, signaling extended period of weak business conditions. EBCI for future North American conditions reversed short string of gains in July, dropping more than 6 points to 31.25.
Original Press Release:
NEMA Business Confidence Indexes Weaken in July
ROSSLYN, Va., July 30, 2008- NEMA's Electroindustry Business Confidence Index (EBCI) for current North American conditions fell for a second straight month in July, declining by more than 4 points to 33.3. The index has spent 13 of the last 15 months at or below 50 points, signaling an extended period of weak business conditions. The survey's measure of the mean intensity of change in current conditions also declined in July, falling to -0.7 from -0.3 in June (on a scale ranging from -5 [deteriorated significantly] through 0 to +5 [improved significantly]).
The EBCI for future North American conditions reversed a short string of gains in July, dropping more than six points to 31.25. Though still in excess of April's 19-month low of 29.5, the index continues to anticipate contraction in the sector over the next half year.
Business confidence indexes for the other three world regions included in the survey all dropped in July relative to June.
Click here for the complete July 2008 report.
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 trade association of choice for the electrical manufacturing industry. Founded in 1926 and headquartered near Washington, D.C., its 430 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.
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