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Economy in Brief
Philadelphia Fed Factory Conditions Recover; Prices Surge
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index rebounded to 25.7 during July...
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Initial claims for unemployment insurance dropped to 207,000 during the week ended July 14...
Japan's Trade Deficit Swings Back to Surplus (Small Surplus)
Japan's early June trade results show a goods trade position having swung back to surplus in June from deficit in May...
U.S. Housing Starts Weaken Unexpectedly
Total housing starts declined 12.3% (-4.2% y/y) during June to 1.173 million (AR)...
U.S. Mortgage Loan Applications Reverse Earlier Increase
The MBA total Mortgage Applications Index declined 2.5% last week (-12.8% y/y)...
by Tom Moeller June 7, 2005
April sales of semiconductors in the Americas as published by the Semiconductor Industry Association fell a sharp 21.1% following a like increase the month prior. This sideways movement in American sales of semis has been in place for roughly a year.
American sales of semiconductors account for 18% of the worldwide total, about half the percentage in 2000. Sales growth in the Asia/Pacific region averaged 41.3% last year, twice the American average, while sales in Japan rose 17.5%. The Asia/Pacific region currently accounts for just under one half of worldwide sales of semiconductors, up from less than one quarter in 2000.
During the last ten years there has been a 66% correlation between the y/y change in American sales of semiconductors and the change in real U.S. investment in equipment & software.
| Semiconductor Sales | April | March | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Worldwide | $16.679B | $20.556B | 4.7% | 28.0% | 18.3% | 1.3% |
| Americas | $2.920B | $3.701B | 3.8% | 20.8% | 3.4% | -12.6% |
