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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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Creating Connections in Mexico
07/30/2025 | Michelle Te, Community MagazineA concerted effort by the Global Electronics Association—Mexico team over the past year has created inroads for the Global Electronics Association (formerly IPC) with leading electronics companies, government offices, and academic institutions in Mexico. “Our goal is to bring more awareness to what the Global Electronics Association is and what it offers,” says Lorena Villanueva, senior director. “We also aim to increase our membership. Of 3,200 members of the Global Electronics Association, only 180 are in Mexico.”
Powering Progress: Summer 2025 Community Magazine Now Available
07/22/2025 | Community MagazineIn the new Summer 2025 edition of Community Magazine, members of the Global Electronics Association demonstrate what progress really looks like—through innovation on the factory floor, influence on public policy, and investment in the next generation of engineers.
TRI to Exhibit at SMTA Queretaro Expo 2025
07/16/2025 | TRITest Research, Inc. (TRI), the leading provider of test and inspection systems for the electronics manufacturing industry, is pleased to announce plans to exhibit at the SMTA Querétaro Expo 2025, scheduled to take place on July 24, 2025, at the Querétaro Centro de Congresos y Teatro Metropolitano.
Global PCB Connections: Let the Spec Fit the Board, Not Just the Brand
07/17/2025 | Jerome Larez -- Column: Global PCB ConnectionsIf you’ve ever seen an excellent PCB quote delayed, or worse, go cold because of a single line on the fab print, you’re not alone. Often, that line reads something like, “Use 370HR only,” or “IT-180A required.” These and other brand-name materials are proven performers, but unless your design needs that specific resin system (say, for RF performance, thermal reliability, or stringent CAF resistance), you may inadvertently be holding your job hostage.
IPC Hall of Fame Spotlight Series: Highlighting Lionel Fullwood
07/15/2025 | Dan Feinberg, I-Connect007Many IPC members who have contributed significantly to IPC and our industry have been awarded the IPC Raymond E. Pritchard Hall of Fame (HOF) Award. Though many early HOF members have passed away and are unknown to today’s IPC membership, their contributions still resonate. This special series on IPC Hall of Fame members provides a reminder of who was honored and why. As a bonus, for those who are still around, we get to find out what these talented individuals are up to today.