BANNOCKBURN, IL — Leading macroeconomic indicators and electronics supply chain indicators point to slow growth in the second quarter, according to IPC's monthly report.

The trade group said global economic growth is picking up, but the continuing economic crisis in the 17-nation euro area is delaying a meaningful recovery.

In the global electronics supply chain, only laminate and semiconductors showed positive year-on-year growth in the March quarter, and the growth rates were meager.

In North America, results were mixed. Sales of solder and assembly equipment in the region enjoyed strong growth, while the EMS, PCB, laminate and process consumables industries fell short of last year’s sales levels.

Economic activity in the US manufacturing sector expanded in March for the fourth consecutive month, and the overall economy grew for the 46th consecutive month, according to ISM data.

IPC’s data point to slow growth in the coming months. However, the PCB book-to-bill ratio, a leading indicator for electronics supply chain sales growth in North America, reached a 34-month high in April at 1.10, indicating that sales across the supply chain may resume positive growth momentum in the latter half of 2013.