Q1 2023 Integrated Micro-Electronics Inc Earnings Call Transcript
All right. I think we can go ahead and start. Thanks for everyone taking the time to join us today. Joining us from my end CFO, Lau Dela Cruz. I'll let Dela kick it of market updates. Before Lau takes us through the financial performance for the quarter.
Hello. Hi. Good afternoon, everyone. Just will give you a quick update on the market situation and then we back (technical difficulty). All right.
Just on the updated forecast for the global economic outlook in 2023, it remains about the same as the forecast in Q4 last year with global economy growth at 2.8%. The (technical difficulty) EU and the U.S. are revised slightly upwards as I think consumer spending and employment rates are holding up better than expected. So there's a slight bump up in the U.S. and Europe economies. The rising interest rate in the U.S. and in EU to fight inflation is really biding a lot of the drop in global forecast for 2023 versus '22, as you see in the chart.
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