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Aug 06, 2022 03:35 AM
ECONOMY

Cooling Semiconductor Sales Heighten Fears of a Global Recession

The three-month moving average in chip sales correlated with the global economy’s performance in recent decades.
The three-month moving average in chip sales correlated with the global economy’s performance in recent decades.

(Bloomberg) — World chip sales growth decelerated for six straight months —another sign the global economy is straining under the weight of rising interest rates and mounting geopolitical risks.

Semiconductor sales rose 13.3% in June from a year earlier, down from 18% in May, data from the Washington-based Semiconductor Industry Association showed. The current slowdown is the longest since the U.S.-China trade war in 2018.

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