Current conditions EBCI slides in October, future indicator rebounds modestly
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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