Current and Future Electroindustry Business Conditions Pull Back But Remain at Expansionary Levels

The National Electrical Manufacturers Association (NEMA) recently reported its Electroindustry Business Confidence Index (EBCI) dipped 24 points from a high-water mark in April to 65.4 in May 2021, a significant decline but still solidly in expansionary territory. Comments, largely focused on labor and materials shortages and resultant inflationary pressures, were suggestive of constrained growth.