NEMA Electroindustry Business Confidence Index November 2023

This report presents the findings of the NEMA Electroindustry Business Confidence Index (EBCI) for November 2023. The current conditions index indicates a slight improvement, rising from 52.8 to 53.1, with one-quarter of panel members reporting better conditions compared to the previous month. While the majority of responses indicated unchanged conditions, there were mixed sentiments regarding the overall business environment. The future conditions component saw a notable increase, reaching 68.8, the highest level since January 2022, with more than half of respondents expecting better conditions in the coming months. However, some respondents expressed concerns about potential softening demand due to rising interest rates. The report outlines the methodology used for the EBCI, which is based on a monthly survey of senior managers at NEMA member companies, assessing the business climate in the North American electroindustry. The survey responses were collected between November 14-27, 2023.