Despite slight easing of current and future components, electroindustry business conditions remain upbeat

5 December 2024

Please note that survey responses were collected from the period of November 12-22, 2024.

This month, the electroindustry business confidence index current conditions component, collected just after the presidential election, declined to 60.0 from the previous month’s 69.2. Seven percent of panel members reported that current conditions are “worse” compared to last month, while 67 percent reported conditions are “unchanged” and 27 percent reported current conditions are “better.” Panel member comments portrayed mixed sentiments with some seeing an increase in demand, while others noted softening demand. Comments about the recent election results were also mixed, ranging from relief to uncertainty about future policy effects.

 Click here for the complete November 2024 report.

Current conditions component is unchanged while future conditions component rose.

8 November 2024

Please note that survey responses were collected from the period of October 14-25, 2024.

This month, the electroindustry business confidence index current conditions component held steady at 69.2, reflecting continued improvement among industry stakeholders from a low of 46.7 points earlier this year. Thirty-eight percent of panel members reported that current conditions are “better,” while none indicated a decline, and 62 percent deemed the situation as “unchanged.” Panel member comments this month portray mixed sentiments, with some seeing stable orders while others report sluggish conditions and supply chain issues.

   Click here for the complete October 2024 report.

 

Current conditions component continues to rise in September

3 October 2024

Please note that survey responses were collected from the period of September 11-25, 2024.

This month, the electroindustry business confidence index current conditions component surged to 69.2, reflecting a notable improvement among industry stakeholders from a low of 46.7 points earlier this year. Thirty-eight percent of panel members reported that current conditions are “better,” while none indicated a decline, and 62 percent deemed the situation as “unchanged.” Comments this month presented a mixed bag of sentiments, with some respondents highlighting record levels of quotations while also noting that incoming orders have been somewhat uneven. Panel members noted that while the interest rate reduction has materialized, some are still seeing election uncertainty and cautious customers.

 Click here for the complete September 2024 report.

Current conditions component rises in August

4 September 2024

Please note that survey responses were collected from the period of August 13-26, 2024.

The electroindustry business confidence index current conditions component rose to 63.6 in August, the highest score since February 2023. Most respondents, 60 percent, described current conditions as “unchanged” while one-third considered them “better.” Panel members expressed a positive outlook, noting increased quote activity, a robust market, and rising order rates. However, they also highlighted concerns about the upcoming election and ongoing market uncertainty.

  Click here for the complete August 2024 report.

Future conditions component continues to climb

5 August 2024

Please note that survey responses were collected from the period of July 8-19, 2024.

The current conditions component remained steady at 57.7 in July, the same value reported in June. Most respondents, 69 percent, described current conditions as “unchanged” while 23 percent considered them “better”. Comments from panel members reflect this stability, with some noting improvements in orders, while others reported having excess inventory.   Click here for the complete July 2024 report.

Please note that survey responses were collected from the period of June 10-21, 2024.

After three months of decline and stagnation, the current conditions component increased to 57.7 in June, elevating it back to the robust levels seen at the beginning of the year. The majority of respondents, 69 percent, report that current conditions are “unchanged” and 23 percent report current conditions are “better”. This sentiment was echoed in panel members’ comments, which were mixed as some noted increased orders and investments in data centers while others expressed concerns about political instability, market uncertainty, and sluggish business.   Click here for the complete June 2024 report

Please note that survey responses were collected from the period of May 13-24, 2024.

 Following a six-month run of readings suggesting expansionary conditions, the current conditions component pulled back in April, dipping to 46.7 points. Boosted by a higher proportion of respondents who reported “better” conditions, the gauge of current conditions bounced back to reach the threshold score of 50, a result that suggested conditions remained essentially unchanged from the previous month’s. Except for a three-month period of relatively robust readings near the start of the year, the current conditions barometer has mostly hovered in a region suggesting slow to flat growth for the last 12 months. Comments pointed to modest improvement in conditions mixed with the observation that “order rates have softened in the near term.”   EBCI results 202405nm

Please note that survey responses were collected from the period of April 8-19, 2024.

 In the latest survey, 66 percent of panel members reported "unchanged" conditions, consistent with March’s findings. However, an increased share of respondents reporting “worse” conditions led to a decrease in the current conditions component to 46.7 points in April, down from the previous month’s 53.7. This is the first time since July 2023 the current gauge dropped below the threshold value of 50, indicating a contracting electroindustry sector. Panel member comments were mixed but focused on stable or slight increases in demand for products while cautioning of likely delays in interest rate cuts and increasing energy prices. EBCI results 202404nm

Please note that survey responses were collected from the period of March 11-22, 2024.

(Rosslyn, VA) In February just over half (54%) of panel members reported “unchanged” conditions. That number increased to 67 percent in March. The increase of respondents reporting “unchanged” conditions led to a decrease in the current conditions component to 53.5 points in March, down from the previous month’s 57.7. The member comments were mixed but focused on stability. Members mentioned stable conditions and no significant changes. Some comments noted mega projects continuing and quotations still at record levels, with the caveat that incoming orders have slowed due to excessive inventory levels.  EBCI results 202403nm

The shift in the share of respondents reporting “unchanged” to “worse” conditions led to a decrease in the current conditions component to 57.7 points in February, down from the previous month’s 62.5. After having expanded for four consecutive months, the current conditions reading still stands at its second highest point since February 2023. Although the quantitative score declined, the member comments, similar to last month were mixed, largely reflecting stability. Panel members mentioned large data center projects in the coming months, and solid orders activity in the first quarter, but at least one respondent noted concern about rising supply chain disruptions.  EBCI results 202402nm

A sharp falloff in the share of respondents reporting “worse” conditions helped propel the current conditions component to 62.5 points in January, up from the previous month’s 56.3. Having expanded for four consecutive months, the current conditions reading stands at its highest point since February 2023. Although the quantitative score was firmly in expansionary territory, and accelerating, panel member comments were lukewarm, largely reflecting stability rather than strong growth. Alluding to the mixed, but generally improving business environment, one respondent noted that, “the residential market is the only concern at this point…”  EBCI results 202401nm