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IPC Releases IMS/PCB Book-to-Bill Ratio and IMS/PCB Business Report for October 2003
November 25, 2003 |Estimated reading time: 2 minutes
Northbrook, Ill. — IPC — Association Connecting Electronics Industries announces the findings from its monthly Interconnect Manufacturing Services (IMS)/Printed Circuit Board (PCB) Statistical Program.
Climbing for the sixth consecutive month, the North American IMS/PCB Industry Book-to-Bill Ratio for October 2003 was 1.18. The ratio is calculated by averaging the index numbers for orders booked over the past three months and dividing by the average index numbers for sales billed during the same period. A ratio of more than 1.00 suggests that current demand is ahead of supply, which indicates probable near-term growth.
Industry sales billed (shipments) in October 2003 decreased 6.6 percent from October 2002, and orders booked increased 20.4 percent from October 2002. Compared to 2002, shipments of PCBs are down 20.8 percent year-to-date, while bookings of PCBs are down 10.2 percent year-to-date.
The IMS/PCB Business Report, an IPC statistical report that tracks the dynamics of the U.S. IMS industry, reported the IMS/PCB shipment index was 111.5 and the IMS/PCB booking index was 131.2 for October 2003.
The IPC IMS/PCB shipment index in October 2003 decreased 7.7 percent from 120.8 in September 2003, and the IPC IMS/PCB booking index in October 2003 decreased 4.3 percent from 137.1 in September 2003.
The index shows how current PCB shipments and bookings relate to an index point. In this case, 1992 was chosen as the index point because it was a stable growth year for U.S. PCB manufacturers. A shipment index number of 117.0, for example, indicates that shipments are 17 percent higher than average shipments for the same time period in 1992.
The indices are calculated by setting the base year (1992) equal to 100 and then multiplying the monthly growth rates of the actual shipments and bookings by the corresponding index number.
Percentages based on the index numbers reflect changes in the size of the industry. Data reported by current participants in IPC's monthly survey, however, tell a different story. These participating companies report that their shipments increased 9.6 percent in October 2003 over October 2002, and that their orders booked increased 30.0 percent in October, year-over-year.
Year-to-date, current survey participants report shipments have decreased 2.4 percent and bookings have increased 7.8 percent over the same period in 2002. Together, these figures show a North American PCB industry that has contracted, but the companies that remain in the industry are doing better than last year.
The information in IPC's monthly industry statistics is based on data provided by both rigid and flexible PCB manufacturers that participate in IPC's monthly IMS Statistical Program. These companies represent approximately 60 percent of the U.S. IMS industry.
IPC is a trade association dedicated to the competitive excellence and financial success of its more than 2,200 member companies, which represent all facets of the electronic interconnection industry, including design, printed circuit board manufacturing and electronics assembly. For more information, visit www.ipc.org.