SAN JOSE – North America-based semiconductor equipment manufacturers posted a 90-day average of $743.2 million in worldwide orders in October, down considerably from a year ago.

The three-month average worldwide orders was down 18.6% sequentially and down 19.8% year-over-year. The three-month average worldwide billings was $986.5 million, down 15.3% sequentially and down 21.6% year-over-year.

The book-to-bill ratio was 0.75, said SEMI. A ratio of 0.75 means that $75 worth of orders was received for every $100 of product billed for the month. A ratio below 1.0 suggests a declining market.

The organization said semiconductor capital equipment investments remain muted.