Current conditions EBCI slides for second month
The National Electrical Manufacturers Association ’s Electroindustry Business Confidence Index (EBCI) for current North American conditions slid for a second month in a row in August, dropping to 39.1. A reading of less than 50 is indicative of contractionary conditions. Moreover, the survey’s measure of the mean degree of change in North American business conditions slipped to -0.4 from -0.3 in July (on a scale ranging from %%MDASSML%%5 [deteriorated significantly] through 0 [stayed the same] to +5 [improved significantly]). As recently as June, the mean degree of change was +0.1.
The six-month outlook, on the other hand, continued to provide some cause for optimism. Although the future conditions index for North America retreated slightly from July, it topped the “break-even” threshold of 50 for a fourth straight month at 54.3.
Click here for the complete August 2007 report.