According to data from the Semiconductor Industry Association (SIA), worldwide chip sales rose 5.1% to $21.7 billion in October from September. October is historically a strong month for the semiconductor industry, and improvements were seen in all geographic regions. Europe reportedly grew the most, with a 7.5% sequential increase .

Although October's figures exceeded expectations, sales were still down 3.5% on-year. For the first 10 months of 2009 chip sales were $180 billion, 16.6% less than the $215.8 billion recorded in 2008. That loss has been pinned on the weathered market -- though, SIA president George Scalise believes October's growth reflects an overall recovery of the global economy.

SIA expects 2009 sales to total $219.7 billion, a 11.6% decrease from 2008 -- yet more optimistic than the previously predicted decline of 21%.