WASHINGTON, DC — Worldwide sales of semiconductors rose 0.2% sequentially in July, but slipped 1.9% year-over-year, as the world economy continues to stifle growth.

Semiconductor sales reached $24.4 billion in July, up from $24.34 billion in June, the Semiconductor Industry Association said. The year-over-year decrease was smaller than it has been since October 2011.

All monthly sales numbers represent a three-month moving average.

“July’s sales figures offer some encouraging signs for the global semiconductor industry, but it’s clear that macroeconomic challenges are restricting stronger growth,” said Brian Toohey, SIA's president and CEO. “Meanwhile, the regional outlook remains uneven. Japan has rebounded strongly from last year’s natural disaster and Asia Pacific has held steady, but Europe and the Americas have lagged.”

Semiconductor sales in July increased over 2011 in Japan (4.2%) and Asia Pacific (1.4%), but were significantly lower in Europe (-10%) and the Americas (-10.4%). On a sequential monthly basis, sales increased in Japan (5.4%) and Asia Pacific (0.3%), remained flat in Europe, and declined in the Americas (-3.9%).

Japan had its strongest month-over-month growth since September 2009 and largest year-over-year increase since January 2011.