The 2020 Mid-Year Economic Update_long

Electroindustry Confidence Index Lags in February

NEMA's Electroindustry Business Confidence Index for current North American conditions lagged the 50-point threshold, which is indicative of industry expansion, for a third straight month in February. Still, the index gained ground in absolute terms, climbing nearly 12 points to 41.7 from 30 a month ago.


Meanwhile, the mean degree of change in current North American business conditions climbed to -0.1 in February from a reading of -0.8 in January (on a scale ranging from -5 [deteriorated significantly] through 0 [stayed the same] to +5 [improved significantly]).


Taken together, February's results imply that, while the business environment facing electrical equipment manufacturers continued to weaken in the latest month, the pace of deterioration was ...

NEMA’s Electroindustry Business Confidence Index for current North American conditions lagged the 50-point threshold, which is indicative of industry expansion, for a third straight month in February. Still, the index gained ground in absolute terms, climbing nearly 12 points to 41.7 from 30 a month ago.

Meanwhile, the mean degree of change in current North American business conditions climbed to -0.1 in February from a reading of -0.8 in January (on a scale ranging from -5 [deteriorated significantly] through 0 [stayed the same] to +5 [improved significantly]).

Taken together, February’s results imply that, while the business environment facing electrical equipment manufacturers continued to weaken in the latest month, the pace of deterioration was considerably slower than a month earlier.   

The Electroindustry Business Confidence Index gauges the business confidence of the electroindustry in Asia, Europe, North America, and Latin America and is based on the results of a monthly survey of senior managers at NEMA member companies. Those companies represent more than 80 percent of the electroindustry.

NEMA is the trade association for the electrical manufacturing industry.

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