WASHINGTON, DC – North American PCB shipments increased 17.6% year-over-year in February, reflecting strong demand fulfillment even as booking trends showed signs of softening.

Shipments also rose 5.1% sequentially, with year-to-date growth reaching 13.9%. However, bookings declined 4.3% year-over-year and are down 10.8% year-to-date, indicating slower order intake compared to output.

The book-to-bill ratio stood at 1.08, suggesting demand remains slightly ahead of supply. Still, the gap between rising shipments and declining bookings points to a drawdown of existing backlogs.

“The U.S. PCB sector has started the year with strong shipments to meet existing demand, but with YTD shipments up nearly 14% and bookings down nearly 11%, the industry is drawing down backlogs faster than it's replenishing them,” said Dr. Shawn DuBravac, chief economist of the Global Electronics Association.