Additional Time Needed to Resume Confidence amid Uncertain Global Economy, MCI Fell by 115.8
According to the latest research statistics by WitsView, MCI declined from 4549.2 to 4433.4 by 503.5 points during the period of 3/14~4/13. The Federal Reserve’s lukewarm reception to QE3 reflects a mild U.S. economic recovery as the market believes. However, the US non-farm employment data posted on 4/6 was significantly lower than market’s expectation and hit a record low in nearly 5 months, indicating a rising concern over slower US economic growth momentum in 2Q12. A weak Spain auction on 4/5 leads to worries over re-emerging European debt crisis affected by surging Yield. According to China HSBC PMI on 3/22, the index hit the bottom in 4 months, showing a downtrend in China’s manufacturing momentum, followed by European PMI announced on 3/23 that indicates a slumping manufacturing field.
In spite of panel makers and downstream brand vendors’ positive attitudes toward shipments in 2Q12, market confidence remains conservative due to uncertain global economy and traditional off-season in the 2nd quarter. According to WitsView, 2012 TFT-LCD market stays cautious but positive in the peak season in 2H12 while facing projected supply chain adjustments in sizes, technologies, products, and campaigns.
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