IPC announced the May 2023 findings from its North American Printed Circuit Board (PCB) Statistical Program. The book-to-bill ratio stands at 0.89(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).

Total North American PCB shipments in May 2023 were up 6.7 percent compared to the same month last year. Compared to the preceding month, May shipments were down 1.9 percent.

PCB bookings in May were up 4.1 percent compared to the same month last year. May bookings were up 6.7 percent compared to the preceding 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.