Wednesday marked the release of the 100th edition of NEMA's Electroindustry Business Confidence Index report. The EBCI tracks the evolution of business conditions facing the electroindustry in North America and three other world regions, as seen through the eyes of senior executives of NEMA member companies. Perhaps the most interesting component is the report's measure of expected conditions a half-year down the road.
Naturally, this future conditions index has seen highs and lows over the years, beginning as it did in March 2001, at the outset of the last recession. The index plunged in the fall of that year in the aftermath of the 9/11 attacks, but soared during the heady days of the electroindustry expansion of 2004-2008. The EBCI survey panel did a good job predicting that runup, so in these difficult times it may be comforting to note that the index has been signaling forthcoming growth for four months now and that latest reading (for June) measured its highest since August 2005.
Here's to hoping the industry's executives get it right once again….