September Highlights:
In September, both global design and sourcing activities saw declines compared to the previous month, reversing the growth observed in August. Design activities decreased by -6% month-over-month, while sourcing activities dropped by -8% month-over-month.
Q3 witnessed global design and sourcing activities aligning with projected expectations. Global design activities experienced a decline of -4.3%, while global sourcing activities decreased by -3.5% quarter-over-quarter.
Year-to-date 2023 (January-September):
Year-to-date, global design activities exhibited a positive trend with a growth of +5%, whereas global sourcing activities declined by -25% when compared to the same period last year.
Q4 2023 Outlook:
Looking ahead to Q4, it is anticipated that global design activities will show growth in the range of +4% to +8%, while global sourcing activities are expected to decline within the range of -3% to -6%.