January 14, 2026
NEMA Survey Reveals Boost in Forward-Looking Confidence
December reading indicates improved bookings and broader business momentum
Each month, the National Electrical Manufacturers Association (NEMA) publishes the Electroindustry Business Confidence Index (EBCI). The index is based on surveys of senior managers at NEMA member companies – designed to gauge the business environment of the electroindustry in North America. Member companies include most of the ten largest lighting manufacturers in North America, along with other manufacturers of lighting, electrical and medical imaging products.
The latest reading of the EBCI shows the year closing on a notably stronger footing. After months of stability, December’s survey points to a clear improvement in current operating conditions, supported by firm bookings and sustained business momentum across the electroindustry.
At the same time, forward-looking sentiment has strengthened further. Expectations for the next six months remain decisively positive, with survey respondents expressing broad confidence in future output as the industry moves into 2026. Taken together, the results suggest not just resilience, but a growing conviction that underlying demand is holding — and in some cases accelerating — as the calendar turns.
This most recent ECBI shows how makers of electrical equipment view current and future market conditions. Below are the details:
The Current Conditions component rose to 72.2 in December, up from 58.3 in November. Respondents indicated that 44 percent experienced “better” conditions, none reported “worse,” and 56 percent saw conditions remain unchanged. Comments from panelists were positive, highlighting strong bookings and ongoing business momentum.
The median value for the magnitude of change in current conditions increased to 1.0, while the mean rose to 0.9, both up from the previous month. Panelists are asked to report the magnitude of change on a scale ranging from –5 (deteriorated significantly) through 0 (unchanged) to +5 (improved significantly).
Optimism for future output strengthened, as the Future Conditions component climbed to 88.9, compared to 79.2 in November. A majority of respondents, 78 percent, expect conditions to be “better” six months from now, with none anticipating “worse,” and 22 percent seeing conditions remaining unchanged. Comments reflect a positive outlook, with expectations for strong output in the coming months.
SURVEY RESULTS:
- Values reflect the percentage of respondents expecting "Better" conditions, plus one-half of the percentage of respondents expecting "Unchanged" conditions.
- A score of 50 or higher suggests conditions appropriate to expansion of the electroindustry sector.
- Please note that survey responses were collected from the period of December 8-19, 2025.
EBCI METHODOLOGY:
The EBCI indexes are based on the results of a monthly survey of senior managers at NEMA member companies and are designed to gauge the business environment of the electroindustry in North America (defined here as the United States and Canada).
The survey contains the following questions:
-
How would you rate current economic conditions in North America, as they affect your business, compared to the previous month?
-
Using the following scale, please describe the magnitude of change in economic conditions in North America this month compared to economic conditions last month? [Scale structured as follows: 5 (improved significantly), 4, 3, 2, 1, 0 (stayed the same), -1, -2, -3, -4, -5 (deteriorated significantly)]
-
How do you expect economic conditions in North America, as they affect your business, to have changed six months from now?
Respondents are asked to indicate whether conditions are better, worse, or unchanged. The survey also provides space for respondents to comment on current conditions. These comments are included below the table containing the index levels.
The index value is the percentage of respondents expecting “Better” conditions, plus one-half of the percentage of respondents expecting “Unchanged” conditions, which follows the methodology used by the Institute for Supply Management (ISM; formerly the National Association of Purchasing Management) in the construction of their manufacturing index.
Reprinted by permission of the National Electrical Manufacturers Association (NEMA)
