The Global Electronics Association (formerly IPC) has released the May 2025 results from its North American Printed Circuit Board (PCB) Statistical Program. The book-to-bill ratio stood at 1.03.

Total North American PCB shipments in May 2025were up 21.4 percent compared to the same month last year. Compared to the preceding month, May shipments were up 7.1 percent. May's year-to-date (YTD) shipments increased by 7.9% year-over-year (YOY).

PCB bookings in May were up 9.5 percent compared to the same month last year. May bookings were down 12.9 percent compared to the preceding month. May's YTD bookings increased 18.3% compared to the same period last year.

“North American PCB shipments continued their upward trajectory in May, reflecting strong demand and improving supply chain dynamics. While bookings slowed from the previous month, indicating some near-term cooling in new orders, year-over-year growth remains solid. Demand is largely keeping pace with supply, pointing to a stable near-term outlook,” said Shawn DuBravac, Global Electronics Associations chief economist.