Semiconductor sales in Europe jumped in March, according to data from analyst e-forecasting.com
This forward-looking composite index that forecasts six months ahead, on average, business activity in the region for sales for semiconductors went up 0.9% in March to a reading of 186.1.
The index was set to average 100 in 2000.
“The European semiconductor industry leading indicator continues to grow, but as noted last month, there is a trend that growth has slowed," commented Maria Simos, CEO of e-forecasting.com.
The semiconductor leading indicator’s six month growth rate went up 20.5% in March 2010, after going up 22.3% in February.
“Although on a 15 month growth streak, there are several indications that growth will slow later this year based on movement of the indicator,” said Simos.
According to the forecaster, consecutive positive values in the six-month growth rate predict an end to an economic recession and the beginning of an upcoming expansion.
The index incorporates; productivity, manufacturing; monetary conditions and orders to inventories ratio.