ECA monthly order index takes annual January dip
Feb 15, 2005
The monthly order index compiled by the Electronic Components, Assemblies & Materials Association (ECA) took a slight dip in January in a pattern consistent with past years. Results over the first month were positive compared to those for the entire 2004 year.
Order report growth for the past month was down by about 20 percent over January 2004, when the market was making a big comeback from the 2003 year. Although growth in January 2004 started at 55 percent above January 2003, it eventually subsided from the steep climb in the early months of the year. Overall, last year's 12-month moving average finished a few percentage points ahead of 2003.
"Except for last year, when orders grew rapidly compared to a poor 2003, January is not a traditionally strong month for order growth," says Bob Willis, ECA president. "It typically takes a couple of weeks to gear up from the holidays, and this year is no different. Results from the last two weeks of January and the first week of February are strong, which is a good sign. It's too early to see any definitive patterns, but most manufacturers are expecting this year to be much like 2004 - good, but not great."
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