The Electroindustry Business Confidence Index (EBCI) for current North American conditions — derived from a survey of senior industry executives — climbed to 69.6 in February, up 6 points from January’s reading of 63.6. The index has topped 60 points in each of the last four months, indicating a sustained improvement in the economic environment facing a broad cross-section of electrical equipment manufacturers. A reading above 50 indicates more panelists reported better conditions compared to the previous month than reported worse conditions.
The EBCI for future North American conditions slipped modestly in February from the near seven year high recorded in the previous month, but it remained at an elevated level by historical standards at 84.8. A majority of survey panelists — 70% — expect to see conditions improve during the next six months, while none of the 23 respondents anticipate deterioration.