SAN JOSE – North America-based manufacturers of semiconductor equipment posted $1.16 billion in orders in March and a book-to-bill ratio of 0.89, according to SEMI. Bookings are down 4% from February and about 18% year-over-year.

The three-month average of worldwide billings in March was $1.29 billion, about 1% less than February and down 10% from March last year. The book-to-bill of 0.89 means that for every $100 worth of sales, $89 worth of orders were placed. A ratio of 1.0 or higher is generally seen as a sign of an expanding market.