MILPITAS, CA – North America-based manufacturers of semiconductor equipment posted $1.86 billion in billings worldwide in February on a three-month average basis, down 23% year-over-year.

Billings were down 1.7% sequentially, continuing a four-month trend, said SEMI, which tracks the data.

“Global billings of North American equipment suppliers continued a decline that began in November 2018,” said Terry Tsao, chief marketing officer at SEMI. “Despite lower levels of investment, monthly billings for the year remain above 2016 levels.”