March 2023 printing shipments came in at $7.18 billion, up from February’s $6.46 billion and in line with annual seasonality—even if it is below the previous two Marches. Still, after one quarter, 2023 has marched in pretty close lockstep with both 2021 and 2022. We entered 2023 with the best start to the year since 2020 (yeah, yeah, yeah) but we’re holding our own. If regular seasonality continues, we’ve already hit the high point of the year until October.

January-to-March shipments for 2023 are at $20.39 billion, a scosh higher than last year’s $20.25 billion. April will give us a clearer idea of whether we are in for a tough or good year.