Report: Electrical industry contracting

Industrial Distribution staff -- Industrial Distribution, 3/26/2008 8:00:00 AM

The confidence of North American executives of electrical manufacturing companies stayed low for the fourth consecutive month, according to the National Electrical Manufacturers Assn.

The group’s Electroindustry Business Confidence Index (pdf) rose to 47.9 in March, compared with February’s reading of 41.7, indicating weak business conditions for the electrical manufacturing sector.

A reading above 50 indicates expansion; a reading below 50 indicates contraction. The report is compiled using data from surveys of senior electrical manufacturing company managers.

The report’s indicator of expectations for the North American economy in the coming six months plunged 12.5 points to 33.3—its lowest level since November 2006—following a slight gain in February.

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