October 2020 NEMA Electroindustry Business Confidence Index
November 2, 2020
It was nearly inevitable that the current conditions component would pull back from the historic high point of 85.3 it reached last month. Though sharp, the retreat to 52.8 still indicated favorable growth conditions, just at a slower pace. A plurality of respondents noted that conditions were unchanged from September to October. Commentors skewed slightly to the negative, but with one notable exception pointing out a rapid breakdown, most comments alluded to either modest growth or slight slowing in the current period.