Morris Chang, chairman and CEO of the Company (TSMC), recently said that the future of the chip market growth may be slowing down, and revised down the overall average annual growth rate of semiconductor.At the meeting in the second quarter of TSMC, Chang said in 2012 global semiconductor market growth forecast was revised down to between 1-2%, the figure is less than 4% and 4.6%  issued by FutureHorizons and IDC recently for the global semiconductor market growth forecasts.According to reports, Chang said that due to the deterioration in global economic conditions since the fourth quarter of this year, they will enter the inventory adjustment period which continues until the first quarter of 2013. "Now, we estimate at fourth-quarter revenue will decline than the third quarter," TaipeiTimes quoted conversation quoted Chang . However, Chang also said that in 2013 at second quarter shows strong rebound after the end of the inventory adjustment.In the second quarter of 2012, TSMC's revenue and profitability have performance. The company expects at third quarter of 2012 revenue grows about 7 percent. In the past decade, TSMC's average quarterly growth rate was 6.5%. Average revenue in the fourth quarter will decline 1.8 percent over the same period in the previous year.