ABB says China orders fell in Q2warned on Thursday of slowing Chinese demand, Taiwanese chipmaker TSMC forecast a drop in 2023 sales and Electrolux cautioned shoppers are seeking cheaper appliances, deepening worries about global corporate and economic health.
ABB, whose results are seen as a bellwether for the health of the broader industrial economy with its motors, drives, controllers and electrification products used in transport systems and factories, also saw lower demand in Germany.
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