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In December 2023, the current conditions component of the National Electrical Manufacturers Association’s (NEMA) Electroindustry Business Conditions Index (EBCI) for North America rose to 56.3, suggesting improving business conditions favorable to market expansion. This was an increase from an index score of 53.1 in November and 52.8 in October, which was the first time the EBCI returned to expansionary territory since February.
Source: AIA, December 20, 2023.
Nearly one-third of survey respondents reported “better” conditions during the month, with 50% calling the situation unchanged. Respondents were largely positive in their comments, while noting slowing or stalled order activity and geopolitical concerns. The future conditions component of the index, meanwhile, proved even more upbeat, surging in December 2023 to its highest score since the spring of 2021. The December score was 81.3, a significant increase from November’s already strong 68.8, with 75% of responding panelists anticipating “better” conditions in six months.
General Contractors Construction contractors have a decidedly mixed outlook for 2024 as firms predict transitions in demand for projects, according to A Construction Market in Transition: The 2024 Construction Hiring and Business Outlook, a report based on a survey by the Associated General Contractors of America. Source: NEMA, January 3, 2024.
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“2024 offers a mixed bag for construction contractors: on