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.
Electrical Manufacturers Association (NEMA) represents nearly 350 electrical
equipment and medical imaging manufacturers that make safe, reliable, and efficient products
and systems. Our combined industries
account for 360,000 American jobs in more than 7,000 facilities covering every
state. Our industry produces $106 billion shipments of electrical equipment and
medical imaging technologies per year with $36 billion exports.