“And so we expect some destocking to continue in the electronics channel.”

In context

“to finally turn positive? Or is it just sometime early next year, the comps get so easy that it can decline anymore? But what KPIs in terms of end markets are you watching? Mike Roman: Yes, Andrew. Maybe I'll pick up on Monish's description of what we're looking at in the second half. And if you look a little further at the consumer electronics, we saw a soft first half in -- across all consumer electronics category, smartphones, TVs, notebooks, tablets. It -- you just saw -- and it was impacting our results as Monish outlined. And as we look into the second half, maybe there starts to be projected recovery in the markets in fourth quarter but really third quarter looks like the first half. And I would say picking up on inventory in the channel, we see destocking in a slowdown like this. And so we expect some destocking to continue in the electronics channel. So as we go into third quarter, that's kind of forming the view that we have. Now what would we need to see? We would need to see a turnaround in demand in those particular build rates in those end markets. And we'll see, I think, confidence show up in the inventory in the channel as well. So we're watching each of those categories closely in consumer electronics. And we also keep an eye on semiconductor capacity as well and how that's being -- how production is changing there. That gives you an indication of demand as well. Operator: Our next question is from the line of Andy Kaplowitz with Citigroup. Andrew Kaplowitz: So I just want to delve in a little more into your margin performance in Q2 and what it means for your second half. I mean, obviously, you had a nice step-up in sequential”