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U.S. Economy Remains Resilient, but Headwinds Loom in Months Ahead
September 8, 2023 | IPCEstimated reading time: 1 minute
The forecast for U.S. economic growth, initially expected to be 0.5 percent at the beginning of 2023, is now expected to grow by 2 percent. While the U.S. economy has surpassed expectations, the Federal Reserve has raised rates significantly over the last year, signaling tremendous headwinds as those rates take effect. In Europe, growth in the Eurozone expanded by 0.3 percent compared to the previous quarter, marking the most substantial growth since the second quarter of 2022, according to IPC’s August 2023 Economic Outlook report.
According to Shawn DuBravac, IPC chief economist, “The coming months will be crucial in determining the trajectory of the U.S. economy, with a keen eye on the Federal Reserve’s strategies to balance growth and inflation concerns.”
Additional data in the August IPC Economic Outlook show:
- In the U.S., infrastructure investments are poised to give a boost to the construction sector, potentially offsetting some of the slowdown in other areas of the economy.
- The U.S. manufacturing sector recorded a strong month, reporting output gains rose 0.5 percent in July, the first gain in three months. Auto and non-auto manufacturing both posted increases, rising 5.2 percent and 0.1 percent, respectively.
- The U.S. New Orders Index suggests orders remain soft, but manufacturers appear to be managing slower orders well.
- In Europe, the economies of France and Spain demonstrated positive growth, spurred by a surge in exports in France and a rebound in domestic demand in Spain.
- In the second quarter of 2023, employment rose by 0.2 percent in both the Eurozone and the EU. During the first quarter of 2023, both regions witnessed a more substantial increase in employment, with a growth rate of 0.5 percent.
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I-Connect007 Editor’s Choice: Five Must-Reads for the Week
05/17/2024 | Andy Shaughnessy, Design007 MagazineThis week, trade shows are at the top of our feed, with our coverage of the Del Mar Electronics and Manufacturing Show and IPC APEX EXPO. These two longtime events are almost polar opposites in size and scope, but Del Mar seems to be expanding from its roots as a “neighborhood gathering” with its move into the Del Mar Fairgrounds. The Del Mar show always has a good “buzz factor,” which is something you can’t buy.
IPC APEX EXPO: Some Thoughts About Growth
05/16/2024 | Dan Feinberg, I-Connect007After two and a half days of wandering the aisles at IPC APEX EXPO 2024, for the first time, I almost felt like I was exploring CES. There were so many booths and exhibits that I could describe, but I’d like to focus on the growth and huge value of this event, which has expanded well beyond just the growing and impressive exhibit show floor.
IPC Raymond E. Pritchard Hall of Fame Award: Pierre-Jean Albrieux
05/10/2024 | Marcy LaRont, PCB007 MagazineCongratulations to Pierre-Jean Albrieux, who received the 2024 IPC Raymond E. Pritchard Hall of Fame Award. The award is given to individuals in recognition of the highest level of achievement, extraordinary contributions, and distinguished service to IPC and toward the advancement of the industry, including helping to create a spirit of mutual esteem, respect, and recognition among members consistent with the goals and mission of IPC.
IPC Focuses on Education and Onboarding
05/09/2024 | Andy Shaughnessy, Design007 MagazineI recently spoke with Carlos Plaza, senior director of education for IPC, about expanding educational efforts in the PCB design, fabrication, and assembly segments. As Carlos explains, PCB design is a hot topic, but onboarding may be the hottest one of all.
Real Time with… IPC APEX EXPO 2024: Industry Growth, Challenges, and Technological Advancements
05/09/2024 | Real Time with...IPC APEX EXPOEditor Nolan Johnson and Shawn DuBravac, IPC chief economist, dive into key industry topics such as growth, challenges, and technological advancements. They discuss shifts in the global competitive landscape, downstream demand, customization, and how AI is enhancing human skills. The industry outlook appears promising for both the short and long term.