The global electronics sector posted sharp growth in September as output and new orders grew during the period, IHS Markit reported.
- The headline seasonally adjusted PMI climbed to 58.6 in September, up from 58.1 in August. Bigger jumps were seen in output and new orders, but levels remained lower than the previous year as delayed deliveries hit production.
- Production posted growth in all monitored sectors, led industrial electronics. Firms attributed the higher output volumes to strong global demand, with the expansion up from August but down from the previous year.
- New orders recorded a steep climb, with higher demand recorded in China, Japan, Taiwan, Europe, and the United States. Industrial and communications electronics producers also posted strong rates.
Cost pressures continued to increase, with around a half of the firms reporting an increase in input prices versus August.