The US is slipping into recession and the only question is how deep it will be, and the semiconductor industry is unlikely to escape, so it is now surprise that its lead indicator, the book-to-bill ratio, slipped back below 1.00 to stand at 0.99 in August. Average month orders for the three months to August were up 0.9% on the same figure for July at $1,199.5m but the same three-month running average for shipments rose 2.3% to $1,215.1m. Ships for the month of August rose 16.6% compared with the July figure to $1,258.9m. July’s book-to-bill is provisional at 1.00; June is confirmed at 1.06.
