The Chemical Connection: How We Deal With a Technology Roadmap
It’s Only Common Sense: 10 Lessons for New Salespeople
Trouble in Your Tank: Interconnect Defect—The Three Degrees of SeparationIPC Issues February Economic Outlook Report: Economic Data Provides a Mixed View of the Economy
March 2, 2023 | IPCEstimated reading time: 1 minute
Economic data over the last month is providing a mixed view of the economy per IPC’s February Economic Outlook report.
“On one hand, economic fundamentals continue to slow,” said Shawn DuBravac, IPC chief economist. “However, despite aggregate softness, certain segments continue to do well. For example, the defense and space equipment sector hit another new high in January, aerospace is up significantly from pre-pandemic levels and other sectors key to the electronics industry are holding up well.”
The report also shows that manufacturing sectors in Europe, the U.S., and China are all signaling contraction according to their respective PMI indexes, but in China and Europe at least, things are looking less bad this month. Despite signs of slowing demand, manufacturers continue to hire. “The broader economy added more than 500,000 new jobs, a shocking number in the midst of what many believe is the start of a recession,” added DuBravac.
Additional data in report show:
- U.S. manufacturing sentiment contracted for a third consecutive month, falling from 48.4 to 47.4 in January.
- U.S. industrial production was unchanged in January, but was noticeably weaker than the expected 0.5 percent increase. The manufacturing sector improved 1 percent in January, but prior months were revised downward leaving the headline index lower than previously believed. Industrial production has likely peaked, despite January’s rise.
- The S&P Global Eurozone Manufacturing PMI moved higher in January, rising from 47.8 to 48.8. The index hit a five month high, but remains in contractionary territory.
- EU electronics manufacturing output fell in December after a one month increase in November. Output declined 1.4 percent (month-on-month) and is down 0.9 percent over the last year.
- Despite indications that the global economy continues to slow, economists have marginally raised forecasts for economic growth in the U.S., Europe, and China for 2023.
View full report. For more information on IPC’s industry intelligence program including new reports, visit: www.ipc.org/advocacy/industry-intelligence.
Share on:
Suggested Items
Intervala Hosts Manufacturing Day Event for Local Students
10/07/2024 | IntervalaAt Intervala, every day is about manufacturing! On this year’s Manufacturing Day, we also opened our doors to a group of students and teachers from nearby Franklin Regional Middle School to demonstrate the vibrant and interesting careers that exist in modern-day, high-tech manufacturing.
Battling Counterfeit Electronics in Manufacturing
10/07/2024 | Nolan Johnson, I-Connect007Paul Jarski, product development manufacturing leader at Case New Holland (CNH), discusses his extensive experience with counterfeit electronics throughout his career. He highlights the challenges faced during market allocations, where counterfeit parts infiltrated supply chains and causing significant issues. Paul recounts the rigorous processes implemented to detect and prevent counterfeits, including advanced material analysis and testing. Counterfeit parts occasionally slipped through despite these measures, leading to costly and time-consuming audits and verifications to ensure product integrity and safety.
AEMS: Third Time’s the Charm
10/07/2024 | Andy Shaughnessy, Design007 MagazineYou’ve probably heard of the Del Mar Electronics & Manufacturing Show (DMEMS). Since 1995, PCB design and manufacturing technologists have flocked to this seminal event at the Del Mar Fairgrounds near San Diego. Originally a regional show, Del Mar has grown yearly and attracts an outsized group of attendees and exhibitors. So, event founder Doug Bodenstab took his vision northward and launched the Anaheim Electronics & Manufacturing Show (AEMS).
KLA Completes First Phase of US$200 Million Singapore Operations Expansion
10/04/2024 | KLAKLA, a world leader in developing industry-leading equipment and services that advance innovation throughout the electronics industry, today celebrated the completion of Phase 1 of its newest manufacturing facility.
MIRTEC Celebrates 20 Year Milestone Anniversary
10/04/2024 | MIRTECMIRTEC Co., LTD, “The Global Leader in Inspection Technology,” proudly celebrates the 20th anniversary of its North American Sales and Service Division, MIRTEC Corp.