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Survey Shows Decline of Confidence in Economy
The National Electrical Manufacturers Business Confidence Index declined for the fourth month in a row in August, recording a 46.2. The number represents a key point because the 50-point mark separates a reading indicative of sectoral expansion from one suggestive of contraction, according to NEMA.
At the same time, the future conditions index for North America posted its second straight monthly drop, and its fourth in the last five months, sliding to 17.3 from 23.2 in July.
NEMA cautioned against an unduly pessimistic interpretation of recent month’s survey results however. Though industry-wide shipments were off slightly in June, according to the most recent data available, they still outpaced their year-ago level by more than 12 percent, NEMA says.
Instead, the electroindustry has experienced significant growth over the last three years, and is likely entering a period of moderation, NEMA says.