Growth in electronics and computers production slowed to 3.1% in 2015, down from 4.6% in 2014 with a particularly stark deceleration in US production. The main headwinds to growth including the strong dollar, intense price competition, and weaker developed-economy growth are blowing strongly going into to 2016, and as a result, we have downgraded our 2016 growth forecast to 2½%, from 4¼% in our November update.