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Chip Sales Set to Slow Further as Global Recession Fears Mount

  • World tracking body slashes forecasts for this year and next
  • Chip sales in Europe to grow at slowest pace in world in 2023

Chip sales are set to cool more than previously expected as the international economy struggles under the weight of rapid interest-rate increases and rising geopolitical risks, fueling fears of a global recession.

World Semiconductor Trade Statistics, a non-profit body that tracks shipments, lowered its market outlook to 13.9% growth this year from a previous 16.3%. In 2023, it sees chip sales rising just 4.6%, the weakest pace since 2019.