BANNOCKBURN, IL — Shipments from North American electronics manufacturing services companies fell 3.1% in March from a year ago, and bookings dropped 7.1%.

On a sequential basis, March shipments rose 6.2% and EMS bookings jumped 9.9%.

The book-to-bill ratio was 1.28, down for the second month in a row but still in the expansion range. Ratios above 1.0, calculated by dividing the value of orders booked over the past three months by the value of sales billed during the same period, suggest the market will grow in the future.

The data come from the IPC trade group.

“The pattern that emerged in Fall 2022 continued into March. EMS shipments continue to show strength as supply chain challenges dissipate but order flow remains weak,” said Shawn DuBravac, chief economist, IPC.

In conversations with PCEA, manufacturers say order levels from OEMs are returning to historical normal levels of six to nine months. During Covid, OEMs started placing orders for 12 or more months ahead, which led to a spike in the book-to-bill ratio.

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