Press Release Summary:
Highlighting how NEMA EBCI panel members responded to the November survey after the election results were known, this survey of nearly 350 electrical, medical imaging, and radiation therapy manufacturers show that confidence index moved from 55.6 in October to 57.9 in November. Panelists were asked to report intensity of change on a scale ranging from –5 (deteriorated significantly) through 0 (unchanged) to +5 (improved significantly).
Original Press Release:
Anticipated Pro-Business Tilt in Washington Boosts Current and Future Confidence Indexes
NEMA EBCI panel members, all of whom responded to the November survey after the election results were known, pushed the current conditions index further into positive territory, moving it from 55.6 in October to 57.9 this month. While a relatively small share of our panel, 11 percent, rated conditions worse this month, it marks an increase over the 6 percent responding similarly in October. The share of respondents that noted unchanged conditions dropped 15 points, sliding from 78 percent last month to 63 in November. Twenty-six percent of survey respondents reported better conditions, compared to 17 percent in October.
The survey’s measure of the intensity of change in electroindustry business conditions pushed ahead to a slightly more positive rating, as the mean rating edged up to +0.3 this month compared to +0.2 in October. Panelists are asked to report intensity of change on a scale ranging from –5 (deteriorated significantly) through 0 (unchanged) to +5 (improved significantly).
At 73.7, this month’s future conditions index eclipsed October’s reading of 66.7. Although the share of respondents expecting unchanged conditions dropped from 44 percent in October to 21 percent now, those anticipating worse conditions ticked up slightly from 11 percent last month to 16 percent in November. The greatest mover among future conditions components was the share of panel members expecting better conditions. That number jumped 19 points from 44 percent in October to 63 percent this month.
The National Electrical Manufacturers Association (NEMA) represents nearly 350 electrical, medical imaging, and radiation therapy manufacturers at the forefront of electrical safety, reliability, resilience, efficiency, and energy security. Our combined industries account for more than 400,000 American jobs and more than 7,000 facilities across the United States. Domestic production exceeds $117 billion per year.
National Electrical Manufacturers Association