Dear Colleague:
Welcome to Industry Intelligence Insights, your monthly guide to the trends and data shaping the global electronics manufacturing landscape. I’m Thiago Guimarães, Director of Industry Intelligence at the Global Electronics Association, and I’m pleased to share the latest updates.
This month’s issue arrives at a time of growing uncertainty across the global economy. Our Chief Economist Dr. Shawn DuBravac examines a weakening U.S. outlook, where tariffs and trade are the focus.
Against this backdrop, we share new data on North American PCB and EMS markets, which show softening shipments but resilient demand. We also spotlight July’s global sentiment report, our latest intelligence brief on the rising costs of copper tariffs, and expert analysis on U.S. AI policy, EMS software gaps, and the hidden geography of electronics production.
Read on for timely intelligence to help you navigate what’s ahead. |
Warm regards,
Thiago Guimarães
Director of Industry Intelligence, Global Electronics Association
From Shawn DuBravac, Global Electronics Association Chief Economist
Yes, U.S. economic growth remains technically positive, but momentum is clearly fading. While the economy remains in expansion, the vigor that defined 2024 has ebbed. Real GDP contracted at a 0.5% annualized rate in Q1 2025 before rebounding to 3% in Q2. A rush to import goods ahead of new tariffs dampened growth in Q1 and temporarily inflated it in Q2. Volatility in trade flows is masking underlying economic weakness. Averaged across both quarters, GDP grew just over 1% in the first half of 2025, a sharp drop from nearly 3% in 2024. Final sales to private domestic purchasers, a key measure of underlying demand watched by the Fed, slowed to 1.2% from 1.9% in the prior quarter, marking the weakest pace since Q4 2022.
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PCB: North American PCB Industry Sales Down 8.6 Percent in June
North American PCB shipments fell 8.6% year-over-year in June, with month-over-month bookings also down slightly. Despite the dip, a book-to-bill ratio of 1.06 signals continued demand strength and confidence in future growth.
EMS: North American EMS Industry Shipments Down 9.3 Percent in May
North American EMS shipments fell 9.3% year-over-year in May, while bookings rose modestly compared to last year. A strong book-to-bill ratio of 1.43 reflects sustained demand and signals potential for shipment recovery in the coming months.
The Current Sentiment of the Global Electronics Manufacturing Supply Chain
July 2025 Global Sentiment: Despite persistent pressure from rising input costs, the outlook for shipments, orders, and capacity utilization improved over the month, indicating that while current conditions remain challenging, future industry expectations strengthened
Market Intelligence Capabilities
The Global Electronics Association delivers data-driven insights that help decision-makers understand, anticipate, and shape the future of the electronics industry.
Industry Intelligence Brief: Copper Tariffs and the Hidden Costs to U.S. Electronics Manufacturing
This brief underscores significant supply chain risks and urges policymakers to exempt critical copper inputs to preserve U.S. competitiveness and support manufacturing resilience.
U.S. AI Action Plan Should Revive Focus on the Electronics Inside by Chris Mitchell
The Global Electronics Association welcomed the Trump Administration’s National AI Action Plan, calling for renewed investment in domestic electronics manufacturing as a critical foundation for AI leadership.
The Hidden Geography of Electronics by Shawn DuBravac
Beneath the surface of debates about reshoring, tariffs, and supply chain resilience lies a deeper reality: Global electronics manufacturing is increasingly driven by the flow of inputs, not just the shipment of final goods.
What EMS Firms Want From Their Software—and What They Get by Thiago Guimaraes
Exploring the gap between EMS providers’ software expectations, centered on integrated production planning, quality control, and real-time data, and the actual capabilities delivered by many current solutions.
- August 13, 2025 — Texas/Dallas Area EMS Leadership Roundtable: Bot or Not? AI, Automation, and Assembling the Workforce of the Future
- August 29, 2025 — Swiss Electronic Networking Day Zurich, Switzerland: Global Electronics Association’s Christoph Solka will be giving a presentation on the European EMS market.
- September 4, 2025 — Evertiq Expo Gothenburg, Sweden: Global Electronics Association’s Christoph Solka will be giving a presentation on the European EMS market.
- September 11, 2025 — TEK Day Gdansk, Poland: Global Electronics Association’s Christoph Solka will be giving a presentation on the European EMS market.
- September 17/18, 2025 — IPC Day (EMS) Paris, France
Global Electronics Association industry intelligence aims to provide valuable insights into the entire global electronics ecosystem. Through in-depth reports and expert analysis, industry thought leaders provide trend evaluations designed to benefit the electronics manufacturing industry. Learn more and explore our industry intelligence page today.
Contact the team:
Thiago Guimaraes, Director of Industry Intelligence, North America
Christoph Solka, Director of Industry Intelligence, Europe
Shawn DuBravac, Chief Economist
Kate Koger, Public Affairs Coordinator |
