China’s zero-tolerance approach to Covid-19 infection has forced blockades in major cities such as: Shanghai And even the entire region slowed down economic activity, “causing a chain reaction across the global economy. Due to the country’s closed factories and rising logistics costsAccording to a Counterpoint Research report published earlier this month.

May Manufacturing Purchase Manager Index (PMI) Rise to 49.6,from April 47.4, According to the National Bureau of Statistics. Still, PMI readings below 50 indicate shrinkage, and readings above that mark indicate production expansion.

For example, China’s IC exports fell 7.8% year-on-year to 116.5 billion units in the first five months of this year. These exports increased by 17.5% over the same period, driven by a trend due to a global tip shortage.

According to data from the China Automakers Association, total vehicle sales in China were expected to decrease 13.11% year-on-year to 9.45 million units between January and May.

China has long been the world’s largest importer of chips due to the presence of many large manufacturers of automobiles, consumer electronics, personal computers, smartphones and other consumer electronics throughout the mainland.

Global semiconductor revenue is expected to reach US $ 661 billion this year, with continued resilience of demand across the cloud, network infrastructure and automotive markets, according to the latest industry forecast by 2021, 5,820. It will increase by 13.7% from US $ 100 million. Research firm International Data Corp (IDC).

“The global nature of the semiconductor industry has been challenged by Covid-19 and continues to be affected by the closure of the region,” IDC’s semiconductor research manager Nina Turner said in a report. rice field. “But we reiterate our outlook for the 2022 positive growth year.”

Source link

Previous articleToday’s RTL-Prime Minister’s Question: Soaring Gasoline Prices Fuel Britain’s Predicament
Next articleGrammy Awards add new categories including this year’s songwriters