The Global Electronics Association announced today the August 2025 findings from its North American Printed Circuit Board (PCB) Statistical Program. The book-to-bill ratio stands at 0.98.

Total North American PCB shipments in August 2025were up 12.8% compared to the same month last year and up 3.3% from July. August's year-to-date (YTD) shipments increased by 8.3% year-over-year (YOY).

PCB bookings in August were down 4.1% compared to the same month last year and were down 5.2% compared to July. August's YTD bookings increased 14.5% compared to the same period last year.

"The North American PCB sector is showing some near-term softness, with bookings trailing shipments, but the broader trajectory remains positive," said Dr. Shawn DuBravac, chief economist, Global Electronics Association. "While short-term book-to-bill ratios point to a cooling phase, the underlying fundamentals remain constructive for the quarters ahead."

North American PCB indicators point to near-term softness against a stronger year-to-date backdrop. The three-month book-to-bill at 0.98 and the 1-month at 0.88 show bookings trailing shipments, which implies easing capacity utilization and limited near-term upside. Rolling trends confirm the pause, with shipments down 1.9% and bookings down 3.6% on a 3-month moving-average basis. Even so, the year-to-date picture remains solid, with shipments up 8.3% and bookings up 14.5%, indicating demand is still running ahead of last year and backlog support persists. Netting these signals, the sector is digesting recent strength in the short run, while underlying demand remains constructive for the coming quarters.