SAN FRANCISCO — Global semiconductor equipment billings slipped to $15.8 billion in the third quarter, a 5% decrease from the second quarter, according to the SEMI trade organization. Billings improved by 11% compared to the third quarter of 2017.

The third quarter marked the second straight quarter of sequential billings declines for the semiconductor equipment industry, which has been enjoying a historic run. Third quarter billings were down by 7% compared to $17 billion in the first quarter, the peak of the upcycle.

SEMI said in July it expects chip equipment sales to hit $62.7 billion this year, an increase of 12% compared to the record high of $56.6 billion the industry set last year.

Semiconductor equipment billings in billions of dollars