Clearly, the slowdown in the U.S. economy has reduced demand for electronics goods and, by extension, the chips on which they run. Said SIA president George Scalise, “The worldwide economic crisis is having an impact on demand for semiconductors, but to a lesser degree than some other major industry sectors.”

Right now, anyway. According to Gartner (IT), chipmakers haven’t yet seen the worst of this downturn. “In the last quarter of 2008, market conditions deteriorated significantly, and as the fourth quarter has progressed, many vendors have issued updated guidance for the quarter, reflecting weakening market conditions,” commented Gartner analyst Andrew Norwood. “Unfortunately for vendors, 2009 is going to be considerably worse. Some have compared the precipitous decline in semiconductor demand to that of the 2001 ‘dot-com’ bubble. However, unlike 2001, this economic downturn is much more broad-based and not limited primarily to the technology sector.”

If you haven’t stopped tracking them already, that is.

This morning, the SIA released its annual forecast of global semiconductor sales and it is a dismal one. So dismal, in fact, that the Association expects global chip sales to decline in 2009–something not seen since 2001. According to SIA, chip sales will fall next year to $246.7 billion, down 5.6 percent from 2008.

As I said, dismal.

“The current global economic turmoil is clearly having a significant impact on semiconductor sales,” said SIA President George Scalise. Indications are that both consumer and corporate spending on technology will decline in 2009. Visibility is very limited, and much will depend on how quickly public policy makers can act to restore consumer confidence.”