The 2004 midterm semiconductor forecast published by Future Horizons shows that the semiconductor market will see a 32-percent growth in the rest of 2004 and a further 28-percent growth in 2005, which would make it a $282 billion dollar industry. Future Horizons, while acknowledging that its forecasts could be high, contend that their predictions should hold true only if the economy grows at the current predicted 4-4.6 percent. Meanwhile, the European market is going in the opposite direction of the rest of the global market as Future Horizons has reported a $40 billion trade deficit in Europe.
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