According to Bloomberg, data showed that chip sales have cooled more than previously expected.
The World Semiconductor Trade Statistics, a nonprofit that tracks shipments, lowered its forecast for market growth this year to 13.9 percent from 16.3 percent previously. Chip sales are expected to grow by only 4.6% in 2023, the slowest growth rate since 2019. display tft panel
The market is still on track to exceed $600 billion this year, WSTS said. The forecast growth next year will be the weakest since sales fell 12% at the height of the U.S.-China trade war.
Chip sales are an important indicator of global economic activity as households and companies increasingly rely on digital devices and online services to consume and expand.
According to the WSTS, Japan is likely to see the strongest sales growth of 5% next year, followed by the Americas at 4.8%, Asia Pacific at 4.7% and Europe likely to grow just 3.2%.
The International Monetary Fund cut its global growth forecast last month and said 2023 could be tougher than this year. Bloomberg Economics models put a 100% chance of a U.S. recession within the next 24 months.
Global chip sales cool more than expected as economic worries mount
