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IPC’s January 2022 Economic Outlook report finds that supply chain challenges remain acute and have improved little from the previous month. Shortages continue to hamper production levels and lead-times remain long. Supply chain challenges will linger well into 2022, and in some instances, into 2023.
Among other data, IPC’s economic outlook report shows:
- Economic growth will be severely muted at the start of the year as Omicron slows economic activity – gross domestic product (GDP) growth in the United States could drop to as low as 2.5 percent in the first quarter of the year.
- Inflation in Europe shot-up to 4.9 percent in November, the highest level since records began in 1997, two years before the euro was launched.
- Consumer sentiment improved marginally in December, but the gains might be short-lived thanks to rising cases of COVID. Consumer sentiment reached lows in November not seen since 2011.
- The reemergence of COVID had stymied Europe’s recovery early in the year, but Europe is quickly getting growth back on track. Growth in the third quarter was 3.7 percent higher than a year ago.
- The number of employed persons increased by 0.9 percent in both the Euro area and in the European Union during the third quarter, but the unemployment rate has declined slowly during the recovery.
“It has been a tumultuous year and many of the risk factors that are prevalent today will continue through at least the first half of 2022, said IPC Chief Economist and report author Shawn DuBravac. “COVID continues to be a major deterrent to economic growth and while the impact of the current outbreak remains unclear, the uncertainty it has created will hinder the recovery in the early months of the new year. While my expectations for growth for 2021 and 2022 are muted from prior months, I still expect the U.S. economy to grow four percent next year.”
Suhani Chitalia, IPC Environmental Regulatory Affairs Manager
Man-made chemicals known as PFAS have regulators busy trying to address previous releases and prevent future releases of this chemical into the environment from widespread uses in manufacturing processes and products used across the globe. PFAS chemicals tend to be persistent in the environment and they have been used long enough and in enough applications that their unwanted presence in the environment has public health policymakers concerned.
Nolan Johnson, I-Connect007
This week has been both speedy and newsy. Of course, those two characteristics often seem to travel as a pair, don’t they? A four-day week here in the United States, accompanied by a wave of high-impact news from a wide variety of sources, would suggest that readers could be expected to spread out all over the news map. Not so much, judging from readership numbers; folks all found their highest value in the same type of news coverage. This week's list of must-reads is dominated by market reports as a result of that focused readership. On our list, we have PCB fabrication and EMS book-to-bill reports, a 10-year market forecast report, and a supply chain sentiment report. In addition, readers flocked to the EWPTE show coverage. Finally, we saw significant reader interest in the most recent podcast on sustainability in our logistical operations.
Andy Shaughnessy, Design007 Magazine
It’s been a busy week here at I-Connect007, an even busier week for PCB designers and manufacturers. This week, we published a variety of articles and news items. In this week’s wrap-up, we have an interview with Rex Rozario that is basically a historical look at the birth of commercial PCB manufacturing, and his involvement with the Rolling Stones in their early days. Then we bring you a look at trends in freight costs, which are—fortunately—heading southward right now.