Some parts of the electroindustry were reporting healthy business in March, but most respondents were already reporting worsening conditions by the middle of the month. The current conditions component, with a majority of panel members reporting worse conditions, shrunk to 31.3 points in March from last month’s reading of 50. Most of the responses were submitted prior to the wave of stateimposed “stay in place” and lockdown orders and so appear to be more reflective of reduced demand driven by uncertainty than by the effect of planned shutdowns.

Read the full report.