As expected, the year-on-year growth rate declined slightly from the 50.4% reported in April. "Global sales of semiconductors in May reached a new high and remain on pace to reach the SIA forecast of 28.4% growth to $290.5 billion in 2010," SIA resident George Scalise said in a statement. "Chip sales have been buoyed by strength in sales of personal computers, cell phones, corporate information technology, industrial applications and autos." The SIA reiterated that the industry year-on-year and sequential growth rates are likely to continue to slow during the second half of 2010. It said that issues such as government debt, declining consumer confidence, and pressures on government spending bear watching in the second half of 2010, given the semiconductor industry's growing sensitivity to macroeconomic conditions. -- Reported by Andrea Tse in New York Follow Andrea Tse on Twitter and become a fan on Facebook.
SAN JOSE, Calif. ( TheStreet) -- Worldwide semiconductor sales in May were $24.7 billion, an increase of 4.5% from April and 47.6% from May 2009, according to the Semiconductor Industry Association.