October EMS Trends Show Stabilizing Market and Building Momentum for 2026

The Global Electronics Association announced today the October 2025 findings from its North American Electronics Manufacturing Services (EMS) Statistical Program. The book-to-bill ratio stands at 1.26.

Total North American EMS shipments in October 2025 were down 0.1% compared to the same month last year. Compared to the preceding month, October shipments were up 4.9%. October’s year-to-date (YTD) shipments decreased by 0.7% year-over-year (YOY).

EMS bookings in October increased 6.4% year-over-year and increased 5.4% from the previous month. October’s YTD bookings increased by 1.3% compared to the same period last year.

“October’s results show an industry that is stabilizing and preparing for future growth,” said Dr. Shawn DuBravac, Global Electronics Association’s chief economist. “Even with shipments slightly below last year’s pace, the firming demand environment suggests a sector that is moving into better balance.”

October data from the North American EMS industry signals stability. The order pipeline is expanding slightly faster than production output, and the widening gap between bookings and shipments often precedes future growth as manufacturers work to meet rising demand. This pattern also highlights improving visibility for suppliers since stronger bookings build backlogs and support more confident production planning.

At the same time, the year-to-date data presents a more nuanced view. Shipments remain slightly below last year’s level, down 0.7% year-to-date, while bookings are up 1.3%. Although output is still lagging, demand is beginning to turn upward, suggesting the industry may be nearing an inflection point as improving bookings gradually translate into higher production levels.

Detailed Data Available
Companies that participate in the Global Electronics Association’s North American EMS Statistical Program have access to detailed findings on EMS sales growth by type of production and company size tier, order growth and backlogs by company size tier, vertical market growth, the EMS book-to-bill ratio, 3-month and 12-month sales outlooks, and other timely data.

Interpreting the Data
The book-to-bill ratios are calculated by dividing the value of orders booked over the past three months by the value of sales billed during the same period from companies in the Global Electronics Association’s survey sample. A ratio of more than 1.00 suggests that current demand is ahead of supply, which is a positive indicator for sales growth over the next three to 12 months. A ratio of less than 1.00 indicates the reverse.

Year-on-year and year-to-date growth rates provide the most meaningful view of industry growth. Month-to-month comparisons should be made with caution as they reflect seasonal effects and short-term volatility. 

Because bookings tend to be more volatile than shipments, changes in the book-to-bill ratios from month to month might not be significant unless a trend of more than three consecutive months is apparent. It is also important to consider changes in both bookings and shipments to understand what is driving changes in the book-to-bill ratio.

The Global Electronics Association’s monthly EMS industry statistics are based on data provided by a representative sample of assembly equipment manufacturers selling in the USA and Canada. The Association publishes the EMS book-to-bill ratio by the end of each month.