NEMA Survey Finds Steady Market, Rising Optimism for 2026

Most respondents report unchanged environment with few signs of decline

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.

In the latest survey, managers reported a largely steady operating environment, with most respondents indicating that current business conditions have changed little since October. At the same time, confidence in the near-term outlook strengthened considerably.

November’s data show a sharp rise in expectations for improved conditions six months out, supported by clearer policy signals and steady orders activity in several key markets. Taken together, the results point to stability today and growing optimism for the first half of next year.

This most recent ECBI shows how makers of electrical equipment view current and future market conditions.  Below are the details:

The Current Conditions component held steady at 58.3 in November. The share of respondents reporting “better” conditions was 25 percent, while those viewing conditions as “worse” declined to 8.3 percent. A majority, 66.7 percent, indicated that conditions remained unchanged. This distribution reflects a stable environment, with most panel members seeing little change from the previous month.

Respondent comments were mixed, with some panelists highlighting strong electrical business activity while others noted lagging performance in general manufacturing and continued uncertainty in the market.