Total North American PCB shipments in February 2023 were up 5.6% compared to the same month last year. Compared to the preceding month, February shipments were up 16.4%, according to the IPC's monthly North American Printed Circuit Board Statistical Program. The book-to-bill ratio stands at 0.99.

PCB bookings in February were up 1.5% compared to the same month last year, and were up 7.8% compared to January.

“Shipments were strong in February and are tracking above 2021 levels for the year,” said Shawn DuBravac, IPC’s chief economist. “However, despite a strong February, order volume remains down through the first two months.”

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.