Still deep in contractionary territory, the current conditions component for May nevertheless pointed to the likelihood that the electroindustry bottomed out in April and began clawing back toward growth this month. The nearly 17-point increase to 32.4 point from April to May was driven largely by a significant decline in the share of panelists that reported worse conditions this month. Very few additional respondents rated conditions as better, but many more registered unchanged conditions, suggesting that the bleeding has stopped for now. Survey results regarding current conditions may have been best summarized by the comment that “although not great, April is better than March.”  

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