North American PCB Bookings Lead Shipments as December Book-to-Bill Reaches 1.18
WASHINGTON, DC – North American printed circuit board shipments increased 11.0% year over year in December, while bookings also rose 11.0% compared to the same month last year. Despite the annual growth, shipments declined 12.8% month over month, and bookings fell 17.7% from November levels, reflecting typical year-end seasonality.
The resulting 1.18 book-to-bill ratio indicates that new orders outpaced shipments for the month, pointing to improving near-term demand. On a year-to-date basis, shipments were up 12.8% year over year, while bookings increased 15.0%, suggesting a generally balanced market with steady momentum as the industry enters 2026.
Industry economists noted that while December’s stronger book-to-bill ratio was influenced in part by softer shipments, sustained growth will depend on bookings continuing to accelerate rather than relying solely on backlog fulfillment.
