News
National Lighting Bureau
Communications Office
Tel. 301.587.9572
www.nlb.org
John P. Bachner
john@nlb.org
301/587-9572
FOR
IMMEDIATE RELEASE
FIRST-QUARTER
2008 LIGHTING SYSTEMS INDEX RESULTS.
LULL
BEFORE THE STORM?
Silver
Spring, MD: “Troubling” is how the National Lighting
Bureau (NLB) describes first-quarter-2008 NEMA Lighting Systems Index data. The
Index, established in 1998, is a composite measure of lamps, luminaires,
ballasts, emergency lighting, exit signs, and other lighting products shipped nationally
and internationally from the United States by the 430 companies that comprise
the National Electrical Manufacturers Association (NEMA). NEMA members
manufacture a wide range of products used in the
generation, transmission, distribution, and control of electricity, as well as
innumerable end-use products in addition to those used in lighting. The value
of NEMA members’ annual shipments totals $100
billion.
According
to NLB Communications Director John P. Bachner, “The latest Index results
exceeded fourth-quarter-2007 results by 1.1%, due principally to increased
emergency lighting equipment and miniature lamp shipments. Overall, however,
the U.S. lighting market remained depressed for the second quarter in a row.
The index was down more than five percent from its year-ago level.”
The
near-term future does not seem to promise a rebound, Bachner commented. Particularly
troubling is the slowdown in nonresidential construction, which, for the past
year, has buoyed overall construction activity despite severe erosion in the residential
sector. According to NEMA Economic Analysis Director Brian Lego, “Data from the
first quarter of 2008 show overall spending on commercial, industrial and other
related nonresidential buildings sank by its largest annualized rate in nearly
three years.”
Even
more trouble could lie ahead, Lego said. He noted that the American Institute
of Architects’ billings index, a forward-looking indicator, slid to an all-time
low, “with readings for firms specializing in commercial and industrial work
especially weak. Overall, tighter lending standards, slower profit growth,
rising energy costs, and a multitude of other financial and economic concerns
pose significant headwinds to nonresidential construction activity.”
As
for residential construction, the general consensus seems to be that conditions
are unlikely to stabilize before late 2008. And even then, Lego commented, “any
improvements will be slow and modest at best…as high inventory levels keep a
lid on prices and construction activity.”
The
NEMA Lighting Systems Index can be viewed at www.nlb.org/Index/.
Established
in 1976, the National Lighting Bureau is a not-for-profit, independent,
lighting information source sponsored by professional societies, trade
associations, manufacturers, and agencies of the U.S. government. For more
information, refer to the NLB website (www.nlb.org) or contact NLB staff by
telephone (301/587-9572) or e-mail (info@nlb.org).
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