March highlights:
- Global design activities remained flat in March, while global sourcing activities increased +18% month-over-month. Compared to 2022, global design activities grew +3% and global sourcing activities contracted -27%
- The APAC region observed strong uptick in both design and sourcing activities in March as much of the region returned to normal business operations after the Lunar New Year holiday
- The Americas and EMEA regions observed a month-over-month decrease in design activities, while sourcing activities increased in the Americas and decreased slightly in the EMEA region
- Calendar Q1 2024, closed with global design activities remaining flat quarter-over-quarter due to a slower than expected start in January, while global sourcing activities increased +4% quarter-over-quarter
Q2 2024 outlook:
- Global design activities are projected to grow between +5% to +8% quarter-over-quarter driven by growth in activities from the Americas and APAC regions
- Global sourcing activities are projected to decrease between -1% to -5% quarter-over-quarter driven by decrease in activities in the Americas and EMEA regions
