Billings are slowing to, according to the latest figures from the Electronic Components Supply Network (ECSN).
“Our members forecast that the underlying rate of billings growth would begin to slow in the second half of the year and in this time of global economic uncertainty this is proving to be correct,” said ECSN chairman Adam Fletcher.
Billings are up on the previous month but down on this time a year ago.
“UK and Eire customer demand has clearly diminished severely”, Fletcher said.
Bookings remain weak dragging the book-to-bill ratio close to the lowest recorded levels for a decade, at 0.85:1.
Total monthly billings in September ’11 increased by 11% when compared to previous month but declined by 7% when compared to the same period last year.
Billings changes by product group in September ’11, compared to the same period last year were: “Semiconductor” declined by12%;”Passives” declined by11%; “Electro-mechs” declined by 3%; “Component Assemblies” declined by 12% while “Other Products” increased by 90%.
“Despite the plethora of negative sentiment about the macroeconomic environment I remain confident that ecsn’s forecast of a flat fourth quarter for the UK / Eire electronic components market is the most likely outcome and that Bookings will recover quickly in Q1’12.” concluded Fletcher.