in with guarded optimism, panel comments also noted some market softness and
uncertainty about the policy course being charted by Washington. Nevertheless,
buoyed by a surge of respondents reporting better conditions the current
conditions index moved to 72.2, which is the highest reading in nearly 4 years.
Most of the movement came from fewer panelists reporting unchanged conditions:
only 22 percent in January versus 44 percent last month. Although some of that
exodus resulted in a 6 point increase in those seeing worse conditions, 61
percent registered better conditions now compared to 44 percent in December.
The survey’s measure of the
intensity of change in electroindustry business conditions continued to move
further into positive territory, as the
mean rating increased from +0.4 in December to +0.6 this month. Even the median
measure, usually stuck on 0, increased to 1. Panelists are asked to report
intensity of change on a scale ranging from –5 (deteriorated significantly)
through 0 (unchanged) to +5 (improved significantly).
Optimism for 6 months out was
unblemished by even one respondent who expected worse conditions. In December,
6 percent had expressed misgivings. Combining the absence of expectations for
worse conditions with 11 percent fewer responses foreseeing unchanged
conditions boosted the future index to a near-record high of 91.7.
Click here for the
complete January 2017 report.
The National Electrical Manufacturers Association (NEMA) represents nearly 325 electrical equipment and medical imaging manufacturers that make safe, reliable, and efficient products and systems. Our combined industries account for 370,000 American jobs in more than 6,100 facilities covering every state. These industries produce $124 billion in shipments and $42 billion in exports of electrical equipment and medical imaging technologies per year.