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NEW YORK -- Signs of life are emerging among electronics producers, a leading research firm said, but end-user demand is lagging.

SAN JOSE -- The 90-day moving average sales of semiconductors worldwide fell 30.4% year-over-year in February, the Semiconductor Industry Association reported today. Sales declined 7.6% sequentially, the trade group said.

The three-month moving average of sales totaled $14.2 billion in February, SIA said.

“The global semiconductor industry is going through one of the steepest corrections in its history,” said SIA President George Scalise. “While it would be premature to conclude that the sales decline has hit bottom, there are some indications that the rate of decline has moderated from the final quarter of 2008."

Scalise credited the industry for its fast response to trim inventories as the market turned down. "The industry responded quickly to the changing market environment by curtailing production and reducing inventory as demand slowed in late 2008. The world’s two largest foundry manufacturers have recently reported slight improvements in factory utilization rates, albeit at levels well below those of a year ago,” Scalise said.

“Demand for semiconductors is likely to continue well below 2008 levels for the next few quarters, with a gradual recovery to follow as the global economy recover," he said.