UK interconnect sector remains resilient

 In its half-year report for 2023, ITSA members remain optimistic, despite a tough quarter for the order-book, with sharp declines in the communications, data processing and broadcast markets. UK connector revenues are up six per cent year-on-year but down six per cent on Q1 2023, with distribution holding at seven per cent year-on-year. 

Orders have dropped away sharply against 2022 but are up over Q1 2023, while book-to-bill for the quarter was just positive at 1:02. Distribution is down 12 per cent over Q1 but is still up seven per cent year-on-year. Some key markets showed more encouraging signs with medical up 12 per cent, mil/aero up nine per cent, mass transport up nine per cent and test/measurement up four per cent over Q1. Declines of 20 to 40 per cent were seen in communications, data processing and broadcast over Q1. 

Despite an ever changing and volatile market situation, ITSA members remain resilient, projecting an optimistic four to six per cent growth for the year-end.