However, members remain optimistic and revenues, while down quarter-on-quarter, are ahead 6 per cent on last year.
Key figures from the report include: –
- Orders have dropped away sharply against 2022 but are up over Q1 2023.
- Book to Bill for the quarter was just positive at 1:02
- Some key markets showed more encouraging signs with Medical +12%, Mil/Aero +9%, Mass Transport +9% and Test&Measurement +4% over Q1.
- Declines of -20% to -40% in Communications, Data-Processing & Broadcast over Q1.
- Distribution down 12% over Q1, but still up 7% year-on-year.
Despite a changing and volatile market situation, ITSA members remained resilient, and projected 4-6% growth for the year-end.
