BANNOCKBURN, IL – The Global Electronics Association reported a short-term pullback in North American electronics manufacturing services activity in November 2025, with the EMS book-to-bill ratio holding at 1.17, signaling demand remained slightly ahead of output.

Total EMS shipments declined 0.7% year over year in November and fell 3.6% compared with October. Year-to-date shipments were down 0.9%. Bookings weakened more sharply, dropping 4.1% year over year and 9.7% month over month, though year-to-date bookings remained up 0.5% compared to the same period last year.

Chief economist Dr. Shawn DuBravac said the November results reflected a pause rather than a reversal, noting that both shipments and bookings eased as the industry digested earlier improvements in demand. Despite the slowdown, he said the book-to-bill ratio staying above parity indicates the market remains near balance.

The association said three-month moving averages showed bookings turning negative, suggesting softer near-term order flow as customers adjust inventories. However, year-to-date data continue to show bookings slightly outpacing shipments, pointing to cautious but resilient demand as the industry moves toward year-end.

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