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News Article

European semiconductor indicator up in August

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Economic research firm e-forecasting.com today announced that the European Semiconductor Sales leading indicator went up 1.4% in August to a reading of 204.7 after a decline of 0.7% in July.  The index was set to average 100 in 2000. The indicator, comparable to the company's other global regional semiconductor industry indicators for North America, Asia Pacific and Japan, is a forward-looking composite index that forecasts six months ahead, on average, business activity in the region for sales for semiconductors.      
            
"In August, the European semiconductor industry leading indicator strengthened after some months of decline, going back to levels it reached earlier this year in April.  It will be important to watch the European semiconductor industry leading indicator over the next few months, as it seems to be in a crossroads, to determine which way momentum will finally shift," commented Dr. Evangelos Simos, Chief Economist of e-forecasting.com.  

The semiconductor leading indicator's six month growth rate recorded a rate of 1.1% in August 2011, after recording a negative rate of 1.2% in July.  Consecutive positive values in the six-month growth rate predict an end to an economic recession and the beginning of an upcoming expansion. 
Five of the seven components that make up the leading indicator for semiconductor sales in the European market improved in August: Non-EU Demand Prospects, Top-10 partner-countries; US Monetary Conditions, Yield Spread; Change in Profit Margins, US Semiconductors; Orders to Inventories Ratio, US Electronics and European Short-term Interest Rates.  The two components that had a negative contribution to the leading indicator for semiconductor sales in the European market were: Productivity Barometer, US Manufacturing and Productivity Barometer, European Manufacturing. 
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