Press Release Summary:
NEMA's Electroindustry Business Confidence Index (EBCI) for current North American conditions topped 50 point mark for seventh consecutive month in May. While this signals continued business environment improvement, EBCI has slipped over last few months. Index measured 52.3 in May, which is down from 57.1 in April and year-to-date high of 69.6 in February. EBCI for future North American conditions also dipped in May, declining to 81.8 from 85.7.
Original Press Release:
North American Business Conditions Continued to Advance in May, but Gains Have Slowed
ROSSLYN, Va.-NEMA's Electroindustry Business Confidence Index (EBCI) for current North American conditions topped the 50 point mark for the seventh consecutive month in May, signaling continued improvement in the business environment. Nonetheless, EBCI has slipped over the last few months as the share of panelists reporting improvements has trended downward while the share reporting declines has trended upward. The index measured 52.3 in May, down from 57.1 in April, and from a year-to-date high of 69.6 in February.
The six-month outlook remains optimistic. EBCI for future North American conditions also dipped in May, declining to 81.8 from 85.7. Still, readings above 80 are exceptionally strong, having been recorded in only 23 months in the decade long history of the survey. In May, more than 68 percent of panelists said they expected conditions to improve during the next six months, while less than 5 percent anticipated deterioration during that time period.
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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