Press Release Summary:
Data from NEMA's EBCI shows that index for current North American business conditions fell to 48 in October, which indicates more panelists than not report conditions have deteriorated. Better conditions were reported by 4 out of 25 panelists, while 5 out of 25 reported worse conditions, and majority reported conditions were unchanged. EBCI for North American conditions in 6 months climbed to 68, meaning more panelists than not expect business environment to improve.
Original Press Release:
North American Business Conditions Slipped in October, But Six-Month-Ahead Outlook Improved
ROSSLYN, Va. - Data from NEMA's monthly survey on the electroindustry business environment showed a slight decline in business conditions in October, but an improvement in expectations for future conditions.
The Electroindustry Business Confidence Index (EBCI) for current North American business conditions fell to 48 from 53.6 in September. A reading above 50 indicates more panelists than not reported conditions improved during the month, while a reading below 50 indicates more panelists than not reported conditions deteriorated.
Sixteen percent (16%) of panelists - 4 out of a total of 25 - reported better conditions in October, compared to September's figure of 25%. Meanwhile, 20% - 5 out of 25 - reported worse conditions in the latest month, against 18% in September. The majority of panelists in both September and October reported conditions were unchanged.
Meanwhile, the EBCI for North American conditions six months in the future climbed for a second straight month. The index reached 68, up from 66.1 in September and 54 in August, and continues to indicate that more panelists than not expect the business environment to improve over the next six months. Forty-four (44%) of panelists expect to see better conditions by April 2011, compared to only 8% anticipating a weakening.
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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