The Global Electronics Association announced today the October 2025 findings from its North American Printed Circuit Board (PCB) Statistical Program. The book-to-bill ratio stands at 1.00.

Total North American PCB shipments in October 2025 were up 24.4% compared to the same month last year. Compared to the preceding month, October shipments were up 13.5%. October's year-to-date (YTD) shipments increased by 11.9% year-over-year (YOY). 

PCB bookings in October were up 40.7% compared to the same month last year. October bookings were up 43% compared to the preceding month. October's YTD bookings increased 15.9% compared to the same period last year. 

"The strong increase in shipments and the even larger jump in bookings reflect a market that is driving both demand and delivery in tandem," said Dr. Shawn DuBravac, Global Electronics Association's chief economist. "With a hint of fresh demand, the market started the fourth quarter with solid momentum."

North American PCB activity for October reflects a well-balanced market showing healthy momentum. Bookings outpaced shipments for the month, which may signal emerging demand growth; however, the longer-term three-month and year-to-date metrics temper that optimism. Over those periods, shipments have grown faster than bookings, suggesting the industry is likely catching up on backlog and shipping more aggressively to meet existing demand. The growth story remains intact, but sustaining it will require bookings to accelerate rather than rely solely on fulfillment of past orders.