WASHINGTON – Semiconductor sales of $167.7 billion in the first quarter, up 18.8% from the same time the previous year, but down 2.8% from the previous quarter, the Semiconductor Industry Association (SIA) reported.

March sales reached $55.9 billion, a 1.8% month-over-month increase and the highest total ever recorded for that month.

SIA president and CEO John Neuffer noted strong momentum across the sector, with year-over-year growth topping 17% for the 11th straight month. Sales in the Americas surged 45.3% in March year-over-year, helping offset a 2% decline in Europe