Sales were $17.32bn in May, up 36.9% on the year, and 2.1% sequentially. The firm said this was the highest figure since December 2000.

The organization said the figures reflected a continued healthy economic outlook, especially in the US and China. Industry fundamentals looked good, the SIA said, leading us to expect strong growth through the remainder of 2004.

Asia Pacific continued to show the strongest growth, with sales of $7.21bn, up 4.5% sequentially and 54.2% on the year. The Americas, at $3.2bn, was up 0.2% sequentially and 26.5% on the year. Europe saw sales of $3.18bn, down 1.2% sequentially and up 29.1% on the year. Japanese sales were $3.73bn, up 2% sequentially and 25.1% on the year.