MILPITAS, CA — North America-based semiconductor equipment manufacturers reported the 90-day average billings rose 27.2% year-over-year in January.

Manufacturers posted $2.36 billion in billings worldwide in January, according to the SEMI trade group. That's down from the final December level of $2.40 billion, and up 27.2% from the January 2017 billings level of $1.86 billion.

“The strong billings levels from late 2017 have carried over into the new year," said Ajit Manocha, president and CEO of SEMI. “We maintain a positive outlook for the 2018 market, marking three years of growth for equipment spending."