Www Nema Org Intelligence Documents Ind Index 2qtr 12 Cht1
Www Nema Org Intelligence Documents Ind Index 2qtr 12 Cht1
Www Nema Org Intelligence Documents Ind Index 2qtr 12 Cht1
Www Nema Org Intelligence Documents Ind Index 2qtr 12 Cht1
Www Nema Org Intelligence Documents Ind Index 2qtr 12 Cht1

Demand for Industrial Control Equipment Weakened in Second Quarter

Sept. 6, 2012
NEMA’s Primary Industrial Controls Index decreased 3% on a quarter-to-quarter basis during the second quarter of 2012

NEMA’s Primary Industrial Controls Index decreased 3% on a quarter-to-quarter basis during the second quarter of 2012. The index stands 3.3% above its year-ago level and 48% above the cyclical trough observed in mid-2009. Nonetheless, inflation- and seasonally-adjusted shipments still remain slightly below their previous cyclical peak. The Primary Industrial Controls and Adjustable Speed Drives Index, a broader measure of industrial controls demand, also posted a slight decline during the second quarter of 2012, falling 1.3% following its 10.2% gain in the first quarter. On a year-over-year basis the index climbed at a 4.6% rate.

Although the manufacturing sector experienced a surge of activity in the first quarter of 2012, the second quarter showed a weak annualized gain of only 1.4%. The forward-looking ISM manufacturing indices for new orders and export orders remain sluggish looking forward. While the weak 2012Q2 growth performance probably represented a low water mark, annualized increases in output are seen running no higher than the mid-2% range for the rest of 2012 and the whole of 2013. 

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