Elementary Mr. Watson: Ensuring a Smooth Handoff From PCB Design to Fabrication
The Shaughnessy Report: Breaking Down the Language Barrier
Connect the Dots: Designing for Reality—Routing, Final Fab, and QC
IPC: Likelihood of a Recession in 2023 in the United States and Europe Continues to Increase
September 29, 2022 | IPCEstimated reading time: 1 minute
According to IPC’s September 2022 economic outlook report, the economic picture in the United States continues to dim and the likelihood of a recession next year continues to increase. The U.S. economy is expected to expand just 1.6 percent in 2022, less than half as fast as the 3.9 percent growth projected at the start of the year. Next year, the economy is slated to expand just 0.6 percent, down from an expected 2.6 percent growth. A recession in the United States next year is not a foregone conclusion, but the probability has increased.
The picture in Europe is decidedly dimmer. The Russian invasion of Ukraine continues to put tremendous pressure on the global economy, but the impact is especially pronounced in Europe. Europe reported annual inflation of 9.1 percent in August, another new high for the continent. Moreover, pressures continue to mount and Europe will see a few more months of new inflationary highs.
“Right now, all eyes are on inflation,” said Shawn DuBravac IPC chief economist and report author. “Whereas inflation has likely peaked in the U.S., that is not the case in Europe, and likelihood of a recession in Europe next year is high. When the prospect for growth is limited, it does not take much to push an economy into recession.”
In addition to DuBravac's observations, the report also provides U.S. and European data on economic growth, employment, consumer sentiment, manufacturers’ sentiment (PMI), manufacturing capacity utilization and end markets for electronics.
View full September 2022 report. To view other industry intelligence information, visit https://www.ipc.org/advocacy/industry-intelligence.
About IPC
IPC (www.IPC.org) is a global industry association based in Bannockburn, Ill., dedicated to the competitive excellence and financial success of its 3,000+ member companies which represent all facets of the electronics industry, including design, printed board manufacturing, electronics assembly, test and advanced packaging. As a member-driven organization and leading source for industry standards, training, market research and public policy advocacy, IPC supports programs to meet the needs of an estimated $2 trillion global electronics industry. IPC maintains additional offices in Atlanta, Georgia; Washington, D.C.; Munich, Germany; Brussels, Belgium; Bangalore and New Delhi, India; Bangkok, Thailand; and Qingdao, Shanghai, Shenzhen, Chengdu, Suzhou and Beijing, China.
Share on:
Suggested Items
Intel Appoints Lip-Bu Tan as Chief Executive Officer
03/13/2025 | Intel CorporationIntel Corporation announced that its board of directors has appointed Lip-Bu Tan, an accomplished technology leader with deep semiconductor industry experience, as chief executive officer, effective March 18.
IMAPS and DPC: 21 Years of Elevating Technical Knowledge
03/13/2025 | Marcy LaRont, I-Connect007The IMAPS 21st Device Packaging Conference (DPC) may have taken place at a conference center located down an idyllic desert road showcasing the best of what native Arizona has to offer, but the topics at this conference were anything but laid-back. This important platform for professionals in microelectronics and advanced packaging set the stage for a technology in high demand. Brian Schieman, IMAPS executive director, says the show was organized to demonstrate their commitment to addressing current technological trends and with significant energy directed toward fostering connections within the supply chain.
KYZEN Announces the Retirement of Longtime Executive Vice President Tom Forsythe
03/13/2025 | KYZEN'KYZEN, the global leader in innovative environmentally responsible cleaning chemistries, announces the retirement of Tom Forsythe, Executive Vice President, effective December 31, 2024, after more than three decades of service to the company and the electronics manufacturing industry.
Technica USA Celebrates 40 Years of Excellence in Electronics Manufacturing
03/13/2025 | Technica USATechnica USA, a leading provider of materials, equipment, installation, and services for the printed circuit board (PCB) fabrication, PCB Assembly, substrates, MEMS, and semiconductor industries, proudly announces its 40th anniversary in 2025.
IPC Asia’s Talent Development Program Opens Pathways to a More Qualified Workforce
03/14/2025 | Evelyn Cui, IPC AsiaIn Asia, the contradiction between the rapid development of the electronics manufacturing industry and the shortage of talent is particularly evident. The existing talent pool cannot fully meet the market's demand for highly skilled professionals. According to feedback from industry companies, there is an urgent need for professionals with knowledge of IPC standards and practical skills in electronics. However, the reality is that most academic courses are disconnected from the actual needs of the industry, leading to disappointing results when companies recruit from universities and schools.