Current conditions EBCI slides in October, future indicator rebounds modestly
October was the fourth consecutive month, and the fifth in the last six, in which the index failed to reach 50 points.
NEMA ’s Electroindustry Business Confidence Index lost ground in October, dropping by nearly 11 points to 37 from 47.9 a month ago. October was the fourth consecutive month, and the fifth in the last six, in which the index failed to reach 50 points. The results indicate that external conditions facing electrical equipment manufacturers have deteriorated steadily in recent months, NEMA said.
By contrast, the future conditions reading for North America gained ground on the month, albeit modestly, climbing 3 points to 42.6. Notwithstanding October’s increase, the index registered below 50 for a second consecutive month, presaging a weakening of industry conditions over the next six months.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey