NEMA’s Electroindustry Business Conditions Index (EBCI) for current conditions in North America slipped below the 50-point level typically associated with expansion in January for the first time since October 2012. The index declined for the third straight month, falling to 40.6 from 52.8 in December. The share of respondents that reported conditions improved in January declined to 12.5 percent from 16.7 percent in December, while the share reporting conditions deteriorated increased to 31.3 percent from 11.1 percent. Just over 56 percent of respondents indicated that conditions were unchanged from December to January.