Confidence drops in electrical industry

Industrial Distribution staff -- Industrial Distribution, 4/30/2008 9:35:00 AM

Electrical industry executives surveyed by the National Electrical Manufacturers Assn. said they are not optimistic about economic conditions in North America.

The group’s Electroindustry Business Confidence Index slipped more than 20 points to 27.3 in April, its lowest mark since late 2001, following two months of increases.

A reading above 50 indicates expansion in the electrical manufacturing industry; a reading below 50 indicates contraction. The index is based on the results of a monthly survey of senior managers at NEMA member companies.

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