ARLINGTON, Va. (AP) — Orders for electronic components rose in May, reflecting optimism among manufacturers that business conditions are improving, a trade group reported Tuesday.
The Electronic Components Association said the 12-month average, comparing this year's results to last year's, continued an ascent that began last August.
"Manufacturers are responding to current and future electronics growth and don't want to slow momentum by getting caught short of inventory," said ECA President Bob Willis.
ECA's monthly report consolidates order information collected in confidence from leading electronic parts makers. The trade group does not release specific index numbers for orders. Recent quarterly results from tech companies ranging from chip makers to computer manufacturers have shown strong revenue growth as business spending on technology hardware and services has picked up amid the recovery.