Dan’s Biz Bookshelf: ‘The Next RenAIssance: AI and the Expansion of Human Potential’
The Chemical Connection: When the Industry Moves Faster Than the Standards
Driving Innovation: Selecting the Right Laser Source
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:
Testimonial
"In a year when every marketing dollar mattered, I chose to keep I-Connect007 in our 2025 plan. Their commitment to high-quality, insightful content aligns with Koh Young’s values and helps readers navigate a changing industry. "
Brent Fischthal - Koh YoungSuggested Items
Global Electronics Association and CalcuQuote, an Elisa Industriq Business, Launch Joint Supply Chain Intelligence Initiative
04/29/2026 | Global Electronics AssociationThe Global Electronics Association and CalcuQuote, Elisa Industriq today announced a partnership to deliver timely, actionable supply chain intelligence for the electronics industry.
Is China Plus One Still Happening in the PCB Industry?
04/28/2026 | Manfred Huschka, Manfred Huschka Management Consulting (Shenzhen) Ltd.For much of the past five years, China Plus One has been shorthand for supply-chain diversification: reducing dependency on mainland China by adding manufacturing capacity elsewhere in Asia. In the PCB industry, however, in early 2026, it is more nuanced. It looks less like a clean geographic shift and more like a layered, capital-intensive rebalancing of global capacity, one that still leaves China deeply embedded at the center.
EDADOC: Building the ‘Neural Hub’ for High-Compute Chips Within a Compact Space
04/28/2026 | ECIOEvery chip to the market must pass a stringent checkpoint before shipment known as ATE testing. Serving as the physical “neural hub” that connects test equipment worth millions of dollars with the device under test, the performance of the ATE test board directly determines the accuracy, efficiency, and final yield of chip testing. Amid the rapid rise of high-compute chips, what extreme challenges is this seemingly small circuit board facing? How is EDADOC addressing industry pain points through its one-stop “design + manufacturing” model?
Meet Emerging Engineer Dennis Donovan, Kratos Space Commercial
04/29/2026 | Michelle Te, I-Connect007Like many of today’s engineers, Dennis Donovan grew up interested in how things worked. He wanted to see what was inside and how to make it better. Now, he has three bachelor’s degrees, is earning his master’s, and works as an electrical engineering technologist. He aspires to work in PCB assembly with a particular focus on aerospace electronics. He’s a sharp, well-spoken young man with an eye on his future.
Call for Abstracts for Third Pan-European Electronics Design Conference
04/27/2026 | Global Electronics AssociationThe German Electronics Design and Manufacturing Association (FED) and the Global Electronics Association are officially opening the Call for Abstracts for the Third Pan-European Electronics Design Conference (PEDC).