Semiconductor Volume Growth Measures: Million Square Inches Wafers shipped to manufacturers (SEMI.ORG); Revenue (WSTS.ORG) and a world semiconductor industrial production index from Hilltop Economics show healthy revenue and volume growth through September 2025.

Semiconductor Leading Indicators:  A comprehensive tracking system covering more than 200 data series in the semiconductor industry.  The primary leading indicator turned negative in February 2022 and hit recession threshold in September.

Economic Cycle Watch: leading indicators that may help identify turning points that precede a downturn in the next 18 to 24 months.  In the current climate, preparing for a downturn while taking advantage of current growth opportunities should guide business planning.

Hilltop Economics provides its clients with a global consensus-based macroeconomic forecast and a recession alternative that follows a likely business-cycle trajectory.