BANNOCKBURN, Ill., USA, Jan. 26, 2022 (GLOBE NEWSWIRE) -- New data from IPC show that supply chain challenges remain acute, but may have peaked, while lead times remain high. IPC’s February economic update and global electronics manufacturing supply chain sentiment reports found that high material and labor costs are expected to continue for at least six months while recruiting and finding skilled talent continues to be difficult.
Among other conclusions, the global electronics manufacturing survey results show:
The data on future economic outlook suggests growth is decelerating, but good growth is expected in the year ahead. After growing 6.1 percent in 2021, global growth is expected to slow to 4 percent in 2022 and close to that in 2023. In North America, growth will fall from 5.4 percent in 2021 to 3.7 percent in 2022. In 2023, growth is expected to slow further, anticipated at 2.6 percent. In Europe, growth is expected to slip this year from 5 percent to 4 percent and decline to 2.4 percent next year. In Asia, growth is expected to fall from 6.7 percent to 4.8 percent this year. Five percent growth in Asia is predicted for 2023.
“While growth slows this year, this should not necessarily be interpreted as weak growth,” said Shawn DuBravac, IPC chief economist. “Growth rates in 2022 will generally be higher than they were headed into the pandemic.”
IPC surveyed hundreds of companies from around the world, including a wide range of company sizes representing the full electronics manufacturing value chain.
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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 nearly 3,000 member companies which represent all facets of the electronics industry, including design, printed board manufacturing, electronics assembly, and testing. 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.
Sandy Gentry, Communications Director IPC 847-597-2871 [email protected]