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NEMA Business Index shows slower pace of deterioration.
Press Release Summary:
Mar 04, 2008 - NEMA's Electroindustry Business Confidence Index (EBCI) for current North American conditions lagged the critical 50-point threshold for a 3rd straight month in February. However, the index climbed to 41.7 and the mean degree in change in current conditions climbed to -0.1. The results imply that, while the business environment facing electrical equipment manufacturers continued to weaken in the latest month, the pace of deterioration was considerably slower than a month earlier.
Original Press Release
NEMA Indexes Suggest Slower Pace of Deterioration in North American Business Environment in February
Press release date: Feb 27, 2008
Meanwhile, the mean degree of change in current North American business conditions climbed to -0.1 in February from a reading of -0.8 in January (on a scale ranging from -5 [deteriorated significantly] through 0 [stayed the same] to +5 [improved significantly]).
Taken together, February's results imply that, while the business environment facing electrical equipment manufacturers continued to weaken in the latest month, the pace of deterioration was considerably slower than a month earlier.
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 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, SÃ£o Paulo, and Mexico City.
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