Short circuit: Electronics production falls every month since April
The electronics sector slumped 18.2% year-on-year in July.
And according to Standard Chartered, August PMI is likely to fall amid market turmoil.
Here’s more from StanChart:
| Given the recent market turmoil and the poor H1 growth performance in the US, the August PMI reading probably deteriorated further. We expect the main PMI reading to have fallen to 48.9 from 49.3, and the electronics-sector index to have declined to 48.6 from 49.5. The electronics sector remains in the doldrums – electronics production contracted 18.2% y/y in July and has fallen on a y/y basis every month since April (except for May, when it was flat). July industrial production data showed that most sectors grew at a slower pace, adding to concerns about growth. |
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