Despite the improvement in the final months of the year output for the West European Electronics Industry in 2013 is estimated to have declined by 3.1% before showing modest growth of 1.1% in 2014. The outlook however, has significant downside risks. If the situation in the Crimea escalates it could delay the recovery in the European economy as well as lower the outlook globally. China’s economy has also slowed markedly in the first two months of the year, with growth in investment, retail sales and factory output all falling to multi-year lows, a surprisingly weak performance that raises the possibility...

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