ST. LOUIS — The National Association of Electrical Distributors (NAED) is proud to announce that forecasts shared within the inaugural edition of its new Economic and Industry Sector Outlook were exceedingly accurate when compared to actual outcomes.
Launched in October 2020, the NAED’s new Economic and Industry Sector Outlook is a comprehensive quarterly report that contains a wealth of key economic indicators, segment trends, market opportunities, analysis, and forecasts designed to keep users on the pulse of the $100+ billion electrical distribution industry — all in one convenient place and user-friendly format. The report involves forecasts on 32 metrics by report author and seasoned NAED Research and Data Analyst Erin Prinster based on a range of respected industry data sources available on an annual, quarterly, or monthly basis.
In the Economic and Industry Sector Outlook, there are 58 instances in which Prinster “flexes her forecasting muscles”. In comparing her Fourth Quarter 2020 forecasts to actual outcomes, Prinster’s forecasts were within an average of 1% of actual outcomes overall.
In the case of Prinster’s “Full-Line Electrical Distributor Revenue” Forecast from August-November 2020 (the most current data available), for example, Erin’s forecast accuracy averaged within 3% of actual outcomes per month. Based on such sources as the U.S. Bureau of Census, additional inputs, leading market data analyst and exclusive NAED partner D+R International, she forecasted $37 billion in total full-line electrical distributor revenue over those four months. Actual revenue during that period turned out to be $38.3 billion (per the following chart published in the October 2020 edition of the Economic and Industry Sector Outlook).
Michelle McNamara, NAED Foundation’s Executive Director concluded: “Erin’s robust analytical and forecasting skills combined with the industry’s most reputable data sources has established the Economic and Industry Sector Outlook as an invaluable tool that will help electrical product professionals stay on the pulse of the electrical distribution industry.”
The NAED’s quarterly new Economic and Industry Sector Outlook is priced at $850 for a yearly subscription and the January 2021 edition (released on 1/27/21) is now available. For questions or to subscribe, contact the NAED Member Engagement Team at (888) 791-2512 or visit firstname.lastname@example.org or www.naed.org/outlook.
About the NAED
Headquartered in St. Louis, MO, the National Association of Electrical Distributors (NAED) is dedicated to supporting its national membership of electrical distributors in achieving new heights in growth and success. From educational classes, industry-specific research, dedicated publications, and lobbying support to benchmarking and data analytics capabilities, beneficial conferences, and other invaluable networking opportunities year-round, NAED empowers and arms members with a competitive, long-term advantage. For more information, visit www.naed.org.