|
Component Orders Bounce Back in May |
|
|
|
Written by Chelsey Drysdale
|
|
Tuesday, 10 June 2008 |
ARLINGTON, VA – Electronic component orders bounced back in May after a dip in April, while the 12-month average remains relatively flat, says the Electronic Components Association.
The industry remains strong, despite economic problems facing the US. Bill Mitchell, chairman and CEO of Arrow Electronics, said reasons to be optimistic include increasing electronics content pervading consumer’s lives and commerce; $1 trillion in spending in defense and aerospace industries; a 3% growth in lighting each year through 2012, with the LED market tripling in size; $86 billion spent in life-enhancing technologies for health care, and increased spending in transportation to accommodate a growing population and produce new breeds of fuel-efficient vehicles.
“While the electronics industry is inextricably connected to the health of the overall economy, there are many more positive drivers for electronic components,” says Bob Willis, ECA president. “Our industry is certainly not immune to downturns, but so far we’re staying on course for around 6% growth this year.”
|
News