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% of panelists said they expected conditions to improve during the next six months, while less than 5% anticipated deterioration during that time period.
Learn more about NEMA’s Electroindustry Business Confidence Index