Growing EU, emerging economies propel industrial spending

The U.S. economy continued to boost industrial spending, while improved economic conditions in Europe and large emerging countries like China, India and Brazil toward the end of 2016 propelled growth, IHS Markit analysis has revealed. These economic conditions are expected to continue thorough 2017.

Worldwide industrial semiconductor revenues grew by 3.8% YoY in 2016 to $43.5 billion, according to the market researcher. Industrial electronics equipment demand was broad-based, with continued growth in commercial and military avionics, digital signage, network video surveillance, HVAC, smart meters, traction, PV inverters, LED lighting and various medical electronics, such as cardiac equipment, hearing aids and imaging systems, IHS Markit said.