An Imminent Recovery … or a Deep Recession
Global Manufacturing Activity
SEMI Equipment Growth Continued Through Year-End But Coronavirus Impact Looms
Data through December showed a steady recovery in the global electronic supply chain with SEMI equipment leading the way in 3/12 growth (Chart 1). The global purchasing managers index moved into expansion territory (PMI>50) in January indicating...
Cautious Industry Outlook But . . . World SEMI Equipment Growth Resumes!
World Manufacturing Growth Flat to Start 2020 (Chart 1)
The December Global Purchasing Managers Index was in zero growth territory (PMI = 50). However, the various country components varied significantly. With IHS Markit PMI data as a gauge of...
Tide Has Turned
The November Global Purchasing Managers Index moved back into expansion territory (Chart 1). Admittedly results varied significantly by country but world global manufacturing activity resumed growth at year end.
Muted Seasonal Recovery
The global electronics industry normally experiences a seasonal upturn from mid-summer through the December holidays. However, this autumn’s upturn is less robust.
Semiconductor Industry Upturn by Early 2020?
Reports of 2Q’19 financials from all of the major OEMs in our 213 company global sample show that their electronic equipment sales declined 1.4 percent compared to the same quarter of last year (Chart 1). This OEM group’s combined sales growth...
Tempered Growth Forecasts and Longer Range Glimmers of Hope
IMF Revises Global Growth Estimates
Timing of Next Upturn? A Forecast
The typical winter “seasonal slowdown” is now behind us. What can we expect as the year progresses?
Watching (Impatiently) for the Upturn
Manufacturing growth remains slow globally (Chart 1) although conditions vary by country and region (Chart 2).
Don’t Look at These Charts!
Electronic equipment growth definitely slowed in late 2018 (Chart 1). Based on the consolidated revenues of 213 large, global OEMs electronic equipment sales grew only 2.1 percent in 4Q’18 vs. 4Q’17, down from 4.9 percent in the third quarter and...