NEMA, the National Electrical Manufacturers Association, has released the third quarter data for its Electroindustry Stock Index (ESI), a market capitalization-weighted index focusing primarily on the electrical manufacturing industry.
“The Dow Jones Industrial Average, NASDAQ composite, and the S&P 500 stock indexes all closed out the calendar third quarter down substantially,” said Steve Wilcox, economics director. “Likewise, the ESI suffered through a dismal quarter, losing 17.4% of its value since the close of the second quarter of this year. All eight component stocks fell by double-digit percentages for the period. More positively, in comparison to the broader market as measured by the S&P 500, the ESI did not lose quite as much ground when comparing third quarter 2002 to second quarter 2002. Additionally, when comparing the third quarter close in 2002 to the same period last year, the ESI actually gained nearly 6% while the S&P 500 lost almost 22%.”
The ESI is designed for tracking portfolio performances. It can be compared to the S&P 500 Index, which it often follows. Large, highly diversified companies that have a preponderance of trade substantially in markets outside this industry are not included.
For more information, contact www.nema.org.