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IPC released its latest report on the North American Printed Circuit Board (PCB) Statistical Program for May 2023. According to the findings, the book-to-bill ratio was reported at 0.89. In comparison to the same month in the previous year, total shipments of PCBs in North America experienced a positive growth of 6.7 percent. However, there was a decline of 1.9 percent in shipments when compared to the preceding month.
On the other hand, PCB bookings for May showed a year-on-year increase of 4.1 percent, and there was a notable 6.7 percent rise in bookings as compared to the previous month. “The North American PCB market looks pretty balanced this month. Shipments remain strong, and we saw the first year-over-year rise in bookings we've seen since November 2022,” said Shawn DuBravac, IPC’s chief economist.
Detailed Data Available
Companies that participate in IPC’s North American PCB Statistical Program have access to detailed findings on rigid PCB and flexible circuit sales and orders, including separate rigid and flex book-to-bill ratios, growth trends by product types and company size tiers, demand for prototypes, sales growth to military and medical markets, and other timely data.
Interpreting the Data
The book-to-bill ratios are calculated by dividing the value of orders booked over the past three months by the value of sales billed during the same period from companies in IPC’s survey sample. A ratio of more than 1.00 suggests that current demand is ahead of supply, which is a positive indicator for sales growth over the next three to twelve months. A ratio of less than 1.00 indicates the reverse.
Year-on-year and year-to-date growth rates provide the most meaningful view of industry growth. Month-to-month comparisons should be made with caution as they reflect seasonal effects and short-term volatility. Because bookings tend to be more volatile than shipments, changes in the book-to-bill ratios from month to month might not be significant unless a trend of more than three consecutive months is apparent. It is also important to consider changes in both bookings and shipments to understand what is driving changes in the book-to-bill ratio.
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