As electrical manufacturers contended with ongoing supply chain difficulties and rapidly rising inflation, Russia launched the most significant armed conflict on the European continent since WWII. Although mounting challenges facing the industry no doubt contributed to a softening of the current conditions component, which slid from 66.7 in February to 50 this month, continued strong demand arguably prevented the reading from sliding into contraction territory. One respondent summed up the situation by noting “concern over Ukraine, but current order rates are strong with the same challenges from a supply chain/inflation standpoint.”

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