TECHNOLOGY & TELECOMMUNICATIONS

Semiconductor Book-to-Bill Ratio Dips: The closely watched barometer measured by the Semiconductor Industry Assn. slipped slightly to 1.14 for May from a revised 1.15 for April, with North American orders setting a record for the third straight month. It beat the estimate of 1.12 by some analysts who expected to see the traditional summer chip market slowdown. The April number had been revised from 1.14. A ratio greater than 1 indicates the market is expanding. (A book-to-bill of 1.14, for example, indicates that makers had $114 in new orders from the North American market for every $100 in shipments.)