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December Book-to-Bill Stays Positive
January 29, 2008 |Estimated reading time: 2 minutes
BANNOCKBURN, Ill. IPC Association Connecting Electronics Industries released the December 2007 book-to-bill ratios for rigid and flex PCB production in North America. The book-to-bill slipped in rigid and flex segments, hitting 1.01 for combined markets.
Rigid PCB shipments fell 5.9% and bookings rose 6.8% in December 2007 from December 2006. Year to date, rigid PCB shipments were down 8.9%; bookings slipped 7.0%. Compared to the previous month, rigid PCB shipments increased 8.0% and rigid bookings climbed 3.1%. Rigid PCBs represent an estimated 88% of the PCB market in North America. The book-to-bill ratio for the North American rigid PCB industry in December 2007 was 1.01.
Flexible circuit shipments in December 2007 were up 1.0% and bookings were down 9.7% compared to December 2006. Year to date, flexible circuit shipments decreased 5.7% and bookings climbed 4.0%. Compared to the previous month, flexible circuit shipments were up 5.6% and flex bookings rose 2.2%. In December, the flexible circuit manufacturers in IPC's survey sample indicated that bare circuits accounted for approximately 47% of their shipment value reported for the month. Assembly and other services make up a large and growing segment of flexible circuit producers' business. The North American flexible circuit book-to-bill hit parity, 1.00, in December.
For rigid PCBs and flexible circuits combined, industry shipments in December 2007 decreased 5.4% from December 2006, and orders booked increased 5.5% from December 2006. Year to date, combined industry shipments are down 8.7% and bookings are down 6.3%. Compared to the previous month, combined industry shipments for December 2007 climbed 7.8% and bookings went up 3.1%. The combined (rigid and flex) industry book-to-bill ratio in December 2007 declined but remained positive at 1.01.
The North American PCB industry ended 2007 with sales for the year 8.7% lower than its 2006 sales, said Denny McGuirk, IPC president. He noted that book-to-bill ratios have stayed positive since last April, and flex circuits continue to improve, turning positive in December. In December 2007, 83% of total PCB shipments reported were domestically produced. Domestic production accounted for 82% of rigid PCB and 88% of flexible circuit shipments by IPC's survey participants in December.
Book-to-bill ratios are calculated by dividing the value of orders booked over the past three months by the value of sales billed during the same period from companies in IPC's survey sample. A ratio of more than 1.00 suggests that current demand is ahead of supply, which is a positive indicator for sales growth over the next two to three months. The information in IPC's monthly PCB industry statistics is based on data provided by a representative sample of both rigid and flexible PCB manufacturers in the U.S. and Canada.
For more information, visit www.ipc.org.