ATLANTA, GA – North America’s PCB sector opened the fourth quarter with a sharp acceleration in activity, as October shipments and bookings posted double-digit gains, according to new data from the Global Electronics Association. Total PCB shipments rose 24.4% year over year and increased 13.5% from September, pushing year-to-date shipments up 11.9%.

Bookings climbed even faster, surging 40.7% from a year earlier and 43% from the prior month. October’s book-to-bill ratio came in at 1.00, indicating demand and shipments were evenly matched.

“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, the Association’s chief economist. “With a hint of fresh demand, the market started the fourth quarter with solid momentum.”

While October’s surge suggests renewed demand strength, three-month and year-to-date trends show shipments have been outpacing bookings, signaling that manufacturers may still be shipping against backlog rather than sustained new demand. Even so, the Association noted that underlying fundamentals remain positive heading into 2026.

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