Press Release Summary:
Electroindustry Business Confidence Index (EBCI) for current conditions declined nearly 7 points in July, falling to 63.5 from 70.4 one month earlier. While indes reading implies economic environment faced by electrical equipment manufacturers continued to improve on balance in July, fewer panelists reported improvement than those last several months. Also, EBCI for future North American conditions dropped 12.7 points to 57.7 in July, its second drop in as many months.
Original Press Release:
North American Business Confidence Indexes Retreat in July
ROSSLYN, Va.-NEMA's Electroindustry Business Confidence Index (EBCI) for current North American business conditions slid nearly 7 points in July, falling to 63.5 - its lowest level since January 2010 - from 70.4 a month earlier. While the index reading implies that the economic environment faced by electrical equipment manufacturers continued to improve on balance in July, a decidedly smaller share of panelists reported improvement than been the case over the last several months. Meanwhile, the EBCI for future North American conditions posted its second sizable decline in as many months in July, tumbling 12.7 points to 57.7 on the heels of June's 6.7 point fall.
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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