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Shipments of Industrial Control Equipment Strengthened in the First Quarter

06/3/2013 12:00PMSign-up to receive press releases.

NEMA’s Primary Industrial Controls Index increased 4.5 percent on a quarter-to-quarter basis during the first quarter of 2013 after declining for three consecutive quarters. The index stands 1.7 percent below its year-ago level but nearly 50 percent above the cyclical trough observed in mid-2009. Nonetheless, the inflation- and seasonally-adjusted level of shipments remains below the pre-recession peak reached in 2007. The Primary Industrial Controls and Adjustable Speed Drives Index, a broader measure of industrial controls demand, also posted an increase during the first quarter of 2013, gaining 2.4 percent following a 0.2 percent loss in the fourth quarter of 2012. However, the index is down 0.7 percent on a year-over-year basis.

The growth in the indexes coincided with accelerated manufacturing activity in the first quarter of 2013. However, manufacturing sector industrial production is losing momentum moving into the second quarter as output declined 0.3 percent in March and 0.4 percent in April. Still, the forward-looking ISM manufacturing index for new orders hovered above the “break even” mark of 50 on average for March and April. Industrial production, a key demand driver for industrial controls, is expected to increase by 2.3 percent year-over-year for 2013, before picking up to the upper 2 percent range in 2014 amidst improved domestic and global demand.

NEMA is the association of electrical equipment and medical imaging manufacturers, founded in 1926 and headquartered in Arlington, Virginia. Its member companies manufacture a diverse set of products including power transmission and distribution equipment, lighting systems, factory automation and control systems, and medical diagnostic imaging systems. Worldwide annual sales of NEMA-scope products exceed $120 billion.

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