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Electroindustry Business Conditions Index

​​​​The EBCI indices are based on the results of a monthly survey of senior managers at NEMA Member companies and are designed to provide a measure of changes in the business environment facing electrical equipment manufacturers.

For more information, e-mail NEMA Business Information Services


2020  |  2019  |  2018  |  2017

May 2020

Still deep in contractionary territory, the current conditions component for May nevertheless pointed to the likelihood that the electroindustry bottomed out in April and began clawing back toward growth this month. The nearly 17-point increase to 32.4 point from April to May was driven largely by a significant decline in the share of panelists that reported worse conditions this month. Very few additional respondents rated conditions as better, but many more registered unchanged conditions, suggesting that the bleeding has stopped for now. Survey results regarding current conditions may have been best summarized by the comment that “although not great, April is better than March.” ​EBCI results 202005nm.pdf

April 2020

​With lockdown policies fully in effect across most of the country, the current conditions component fell by more than 15 points to 15.8 in April. The last time this reading had drifted so far below 50, the United States was in the midst of the 2007-2009 recession. EBCI results 202004nm.pdf

March 2020

Some parts of the electroindustry were reporting healthy business in March, but most respondents were already reporting worsening conditions by the middle of the month. The current conditions component, with a majority of panel members reporting worse conditions, shrunk to 31.3 points in March from last month’s reading of 50. Most of the responses were submitted prior to the wave of state-imposed “stay in place” and lockdown orders and so appear to be more reflective of reduced demand driven by uncertainty than by the effect of planned shutdowns.​ EBCI results 202003nm.pdf

February 2020

Current conditions retreated in February but did not fall back out of expansionary territory. The 9-point slide from last month's result left the February number at 50 points. The share of respondents noting better conditions declined, while the number reporting worse conditions increased by a similar amount. The proportion of unchanged responses held steady. Much of the commentary contained a sense of optimism shot through with concern over the coronavirus and its effects on supply chains.​ EBCI results 20200227nm.pdf

January 2020

For the fifth consecutive month the current conditions component of the EBCI topped or equaled 50 points, which signaled conditions conducive to an expanding electroindustry. At 59.4, a 9.4 point increase from December’s level, the January score marked this component’s highest reading since June 2018. A majority of panelists reported unchanged conditions, but the share of responses noting better conditions increased by 20 percentage points from last month. Despite the overall manufacturing malaise reflected in the Institute for Supply Management (ISM) survey results, confidence in the electroindustry remained steady to improved.  ​EBCI results 20200129nm.pdf




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