November Highlights:
- Global design and sourcing activity trends for November were in line with expectations.
- Global design activities saw a decline of 8% month-over-month and 4% year-over-year in November. Although all regions experienced a drop in activity, design activities remained significantly above baseline levels and prior years’ figures for the year-to-date period of 2024.
- Global sourcing activities decreased by 5% month-over-month and 19% year-over-year in November. The Americas and EMEA regions experienced a decline in sourcing activity, while the APAC region saw a 4% growth month-over-month. Despite the drop in sourcing activity compared to previous years, overall sourcing remained stable over the last 12 months.
- In November, engineering and purchasing activity was notably higher in the following sectors: computing, networking, and data centers, industrial, and aerospace and defense. Design activities in the automotive and consumer electronics sectors also remained stable.
Q4 2024 Outlook:
- For the fourth quarter, global design activities are projected to increase between 3% and 5% quarter-over-quarter. Sourcing activities, however, are expected to decrease by 7% to 10% quarter-over-quarter, which is in line with trends from the past five years.