IPC: Supply Chain Challenges Continue to Hamper Electronics Production
December 30, 2021 | IPCEstimated reading time: 1 minute
IPC’s January 2022 Economic Outlook report finds that supply chain challenges remain acute and have improved little from the previous month. Shortages continue to hamper production levels and lead-times remain long. Supply chain challenges will linger well into 2022, and in some instances, into 2023.
Among other data, IPC’s economic outlook report shows:
- Economic growth will be severely muted at the start of the year as Omicron slows economic activity – gross domestic product (GDP) growth in the United States could drop to as low as 2.5 percent in the first quarter of the year.
- Inflation in Europe shot-up to 4.9 percent in November, the highest level since records began in 1997, two years before the euro was launched.
- Consumer sentiment improved marginally in December, but the gains might be short-lived thanks to rising cases of COVID. Consumer sentiment reached lows in November not seen since 2011.
- The reemergence of COVID had stymied Europe’s recovery early in the year, but Europe is quickly getting growth back on track. Growth in the third quarter was 3.7 percent higher than a year ago.
- The number of employed persons increased by 0.9 percent in both the Euro area and in the European Union during the third quarter, but the unemployment rate has declined slowly during the recovery.
“It has been a tumultuous year and many of the risk factors that are prevalent today will continue through at least the first half of 2022, said IPC Chief Economist and report author Shawn DuBravac. “COVID continues to be a major deterrent to economic growth and while the impact of the current outbreak remains unclear, the uncertainty it has created will hinder the recovery in the early months of the new year. While my expectations for growth for 2021 and 2022 are muted from prior months, I still expect the U.S. economy to grow four percent next year.”
Suggested Items
Big Win for Defense Production Act Budget Allocation in FY24 Budget
04/23/2024 | I-Connect007 Editorial TeamOne year ago, President Biden issued a determination that chips and packaging are critical for national security. Since that time, much work has been done to continue the conversation in Washington, elevating the importance of the entire chips value chain, and including printed circuit boards and substrates, without which chips cannot operate.
Real Time with... IPC APEX EXPO 2024: A Conversation with IPC's CEO: New Venue, Sustainability, and More
04/23/2024 | Real Time with...IPC APEX EXPOBarry Matties hosts Dr. John W. Mitchell, CEO of IPC, on the final day of IPC APEX EXPO 2024. They discuss the new venue in Anaheim and broach a range of topics, from traffic and booth experiences to workforce development, sustainability, and the CHIPS Act. And they offer advice for newcomers as IPC looks forward to an even better show experience next year.
Boeing's Janene Stinson Earns IPC Excellence in Education Award at IPC APEX EXPO 2024
04/22/2024 | IPCThe IPC Excellence in Education award was presented to Janene Stinson, Boeing, at IPC APEX EXPO 2024 in Anaheim, California, in recognition of her significant contributions to workforce development and leadership.
What’s Next Becomes Now at IPC APEX EXPO 2024
04/22/2024 | IPCFrom revolutionary advancements in artificial intelligence, augmented reality and the latest innovations in capital equipment on the show floor to a heightened learner experience through the 16th Electronic Circuits World Convention (ECWC16) technical conference, IPC APEX EXPO 2024 provided education, professional development and numerous networking opportunities, for 3,723 attendees from 57 countries.
Real Time with... IPC APEX EXPO 2024: Looking Back, Looking Forward With IEC
04/19/2024 | Real Time with...IPC APEX EXPOIEC came to the RTW booth and discussed both the legacy of IEC's past and the vision for its future. Industry veteran Bruno Ferri highlighted his quarter-century tenure in the industry and with IEC since its founding. He still exhibits boundless enthusiasm for the industry. Brando Stone, a young professional and a future face of IEC, talked about IEC's plans going forward and his experience at this year's IPC APEX EXPO.