North American PCB business down while book-to-bill ratio strengthens

Total North American PCB shipments in January 2019 were down 21.4% compared to the same month last year. Compared to the preceding month, January shipments decreased 12.3 percent. PCB bookings in January fell 24.4% year-over-year. Bookings in January were down 10.7 percent from the previous month. “While PCB sales and orders typically fall in January compared to the preceding month, the unusually sharp year-over-year decreases in January’s sales and orders probably reflect a market correction,” says Sharon Starr, IPC’s director of market research, in an update. “The growth cycle that began in mid-2017 peaked in late 2017 and early 2018. Growth has been slowing since the middle of 2018. Current year-over-year growth rates reflect a comparison with peak levels of sales and orders a year ago. The steady decline in the book-to-bill ratio from a 12-year high in January and February of 2018 down to 1.01 in November indicated slowing growth, but the ratio rebounded and remains positive because orders continue to outpace sales. This indicates that positive sales growth is likely to resume by mid-2019.”