UK/Ireland distributors enjoy March growth spurt
UK & Ireland component distributors posted sales up 27% in March 2018 compared to February and 6% up year on year. According to Adam Fletcher, chairman of the Electronic Components Supply Network, the Sales by Month “three month moving average” for all electronic components remains in-line with historical trends, suggesting continued growth into the first half of 2018.
Authorised distributors enjoyed a strong finish to the first quarter of 2018, although the results were at the lower end of the association’s forecast guidance of 10%-to-16% growth.
“Whilst UK customers remain positive about their business prospects in 2018, the Q1 result does suggest a slowing in the underlying growth rate, Fletcher said.
His conclusions are much in line with the findings of Markit /CIPS and the Office for National Statistics (ONS).
“The uptick in inventory levels reported by our afdec members is further evidence that customer Billings are lower than market expectations but as we move into Q2 ‘18 I’m confident that the 8%-to-12% growth range our members forecast will be achieved.”