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ISM Manufacturing PMI Above Forecasts, Prices Soar
The ISM Manufacturing PMI for the US increased to 52.7 in March 2026 from 52.4 in February and above forecasts of 52.5. The reading pointed to the strongest growth in factory activity since August 2022, led by a faster increase in production (55.1 vs 53.5) while new orders slowed (53.5 vs 55.8) and employment contracted slightly faster (48.7 vs 48.8). Also, the prices index jumped to 78.3, the highest since June 2022, from 70.5. “The Supplier Deliveries Index indicated a further slowing for the fourth month in a row (58.9 vs 55.1). March "also marks the first report with panelists citing the Iran war as a new impact to their business, along with ongoing uncertainty with U.S. economic policy, despite the recent Supreme Court ruling striking down International Emergency Economic Powers Act (IEEPA) tariffs. In March, 64% of comments overall were negative. Among the negative comments, about 20% cited tariffs and about 40% the war in the Middle East", Susan Spence, Chair of the ISM said.
Published on 2026-04-01

ISM Manufacturing PMI Above Forecasts
The ISM Manufacturing PMI for the US increased to 52.7 in March 2026 from 52.4 in February and above forecasts of 52.5. The reading pointed to the strongest growth in factory activity since July 2022, led by a faster increase in production (55.1 vs 53.5) while new orders slowed (53.5 vs 55.8) and employment contracted slightly faster (48.7 vs 48.8). Also, the prices index jumped to 78.3 from 70.5. March "also marks the first report with panelists citing the Iran war as a new impact to their business, along with ongoing uncertainty with U.S. economic policy, despite the recent Supreme Court ruling striking down International Emergency Economic Powers Act (IEEPA) tariffs. In March, 64% of comments overall were negative. Among the negative comments, about 20% cited tariffs and about 40% the war in the Middle East", Susan Spence, Chair of the ISM said.
Published on 2026-04-01

ISM Manufacturing PMI Above Forecasts, Prices Soar
The ISM Manufacturing PMI for the US increased to 52.7 in March 2026 from 52.4 in February and above forecasts of 52.5. The reading pointed to the strongest growth in factory activity since July 2022, led by a faster increase in production (55.1 vs 53.5) while new orders slowed (53.5 vs 55.8) and employment contracted slightly faster (48.7 vs 48.8). Also, the prices index jumped to 78.3, the highest since June 2022, from 70.5. “The Supplier Deliveries Index indicated a further slowing for the fourth month in a row (58.9 vs 55.1). March "also marks the first report with panelists citing the Iran war as a new impact to their business, along with ongoing uncertainty with U.S. economic policy, despite the recent Supreme Court ruling striking down International Emergency Economic Powers Act (IEEPA) tariffs. In March, 64% of comments overall were negative. Among the negative comments, about 20% cited tariffs and about 40% the war in the Middle East", Susan Spence, Chair of the ISM said.
Published on 2026-04-01

US Factory Activity Expands for 2nd Month: ISM
The ISM Manufacturing PMI slipped to 52.4 in February 2026 from 52.6 in January, but remained above market expectations of 51.8. The reading signaled a second consecutive month of expansion in the manufacturing sector, albeit at a slightly slower pace. A smaller increase was recorded for new orders (55.8 vs 57.1) and production (53.5 vs 55.9) while employment (48.8 vs 48.1) and inventories (48.8 vs 47.6) remained in contraction. At the same time, price pressures intensified, with the subindex hitting the highest since June 2022 (70.5 vs 59), driven by increases in steel and aluminum as well as tariffs applied to many imported goods. Supplier deliveries (55.1 vs 54.4) indicated a further slowing for the third month in a row. "Of the six largest manufacturing industries, four (Chemical Products; Machinery; Transportation Equipment; and Computer & Electronic Products) expanded in February", Susan Spence, Chair of the ISM Manufacturing Business Survey Committee said.
Published on 2026-03-02

US Factory Activity Expands for 2nd Month: ISM
The ISM Manufacturing PMI edged down to 52.4 in February 2026 from 52.6 in January, beating forecasts of 51.8, pointing to the second consecutive month the manufacturing sector expanded, although at a slower pace. A smaller increase was recorded for new orders (55.8 vs 57.1) and production (53.5 vs 55.9) while employment (48.8 vs 48.1) and inventories remained in contraction (48.8 vs 47.6).
Published on 2026-03-02

US ISM Manufacturing PMI Highest Since 2022
The ISM Manufacturing PMI for the US unexpectedly rose to 52.6 in January 2026 from 47.9 in December and much better than forecasts of 48.5. The reading showed that economic activity in the manufacturing sector expanded in January for the first time in 12 months, and the most since 2022, amid improvements in new orders (57.1 vs 47.4), production (55.9 vs 50.7), employment (48.1 vs 44.8), supplier deliveries (54.4 vs 50.8), and inventories (47.6 vs 45.7), though employment and inventories still remain in contraction. At the same time, price pressures were little changed (59 vs 58.5). "Although these are positive signs for the start of the year, they are tempered by commentary citing that January is a reorder month after the holidays, and some buying appears to be to get ahead of expected price increases due to ongoing tariff issues", Susan Spence, chair of the ISM Manufacturing Business Survey Committee said.
Published on 2026-02-02

US ISM Manufacturing PMI Highest Since 2022
The ISM Manufacturing PMI for the US unexpectedly rose to 52.6 in January 2026 from 47.9 in December and much better than forecasts of 48.5. The reading showed that economic activity in the manufacturing sector expanded in January for the first time in 12 months, and the most since 2022, amid improvements in new orders (57.1 vs 47.4), production (55.9 vs 50.7), employment (48.1 vs 44.8), supplier deliveries (54.4 vs 50.8), and inventories (47.6 vs 45.7).
Published on 2026-02-02

US ISM Manufacturing PMI Highest Since 2022
The ISM Manufacturing PMI for the US unexpectedly rose to 52.6 in January 2026 from 47.9 in December and much better than forecasts of 48.5. The reading showed that economic activity in the manufacturing sector expanded in January for the first time in 12 months, and the most since 2022, amid improvements in new orders (57.1 vs 47.4), production (55.9 vs 50.7), employment (48.1 vs 44.8), supplier deliveries (54.4 vs 50.8), and inventories (47.6 vs 45.7), though employment and inventories still remain in contraction. At the same time, price pressures were little changed (59 vs 58.5). "Although these are positive signs for the start of the year, they are tempered by commentary citing that January is a reorder month after the holidays, and some buying appears to be to get ahead of expected price increases due to ongoing tariff issues", Susan Spence, Chair of the ISM said.
Published on 2026-02-02

ISM Manufacturing PMI Below Forecasts
The ISM Manufacturing PMI for the US fell for a third consecutive month to 47.9 in December 2025, the lowest level since October 2024, compared to 48.2 in November and forecasts of 48.3. The reading showed the US manufacturing activity contracted at a faster rate, led by pullbacks in production (51 vs 51.4) and inventories (45.2 vs 48.9), following increases in November, pointing to recent economic uncertainty in manufacturing. Also, price pressures remained elevated (58.5 vs 58.5). On the other hand, improvements in new orders (47.7 vs 47.4), backlog of orders (45.8 vs 44) and new export orders (46.8 vs 46.2) and the customers’ inventories index remaining in ‘too low’ territory (43.3 vs 44.7) are positive signs for December, but several consecutive months of gains in these indicators are necessary for a longer-term recovery. In addition, employment contracted at a slower pace (44.9 vs 44).
Published on 2026-01-05

ISM Manufacturing PMI Below Forecasts
The ISM Manufacturing PMI for the US fell for a third consecutive month to 47.9 in December 2025, the lowest level since October 2024, compared to 48.2 in November and forecasts of 48.3. The reading showed the US manufacturing activity contracted at a faster rate, led by pullbacks in production (51 vs 51.4) and inventories (45.2 vs 48.9). Also, price pressures remained elevated (58.5 vs 58.5). On the other hand, improvements in new orders (47.7 vs 47.4), backlog of orders (45.8 vs 44) and new export orders (46.8 vs 46.2) and the customers’ inventories index remaining in ‘too low’ territory (43.3 vs 44.7) are positive signs for December, but several consecutive months of gains in these indicators are necessary for a longer-term recovery.
Published on 2026-01-05

US Manufacturing Shrinks for 9th Month
The ISM Manufacturing PMI for the US fell to 48.2 in November 2025, the lowest in four months, compared to 48.7 in September and below forecasts of 48.6. The reading showed that the manufacturing sector contracted for the ninth consecutive month and at a faster pace, led by pullbacks in supplier deliveries (49.3 vs 54.2), new orders (47.4 vs 49.4) and employment (44 vs 46).
Published on 2025-12-01

US Manufacturing Shrinks for 9th Month
The ISM Manufacturing PMI for the US fell to 48.2 in November 2025, the lowest in four months, compared to 48.7 in September and below forecasts of 48.6. The reading showed that the manufacturing sector contracted for the ninth consecutive month and at a faster pace, led by pullbacks in supplier deliveries (49.3 vs 54.2), new orders (47.4 vs 49.4) and employment (44 vs 46), with 67% of panelists (the same as October) indicating that managing head counts is still the norm at their companies, as opposed to hiring. Also, price pressures intensified (58.5 vs 58) and backlog of orders decreased more (44 vs 47.9). On the other hand, production rebounded (51.4 vs 48.2) and inventories fell less (48.9 vs 45.8). “Looking at the manufacturing economy, 58% of the sector’s GDP contracted in November, matching the previous month’s figure, and the percentage of GDP in strong contraction decreased slightly, at 39% compared to 41% in October", Susan Spence, Chair of the ISM said.
Published on 2025-12-01

US Manufacturing Sector Shrinks at a Faster Pace: ISM
The ISM US Manufacturing PMI fell to 48.7 in October 2025 from 49.1 in September, below market forecasts of 49.5, indicating an eighth consecutive month of contraction in the manufacturing sector. Production shrank (48.2 vs 51) and further contractions were also seen in new orders (49.4 vs 48.9), inventories (45.8 vs 47.7) and backlog of orders (47.9 vs 46.2). Employment continued to decline (46 vs 45.3), with 67% of panelists indicating that managing head count is still the norm at their companies, as opposed to hiring. Meanwhile, price pressures eased (58 vs 61.9) while the supplier deliveries index indicated slower delivery performance for the third consecutive month (54.2 vs 52.6). "Of the six largest manufacturing industries, only two (Food, Beverage & Tobacco Products; and Transportation Equipment) expanded in October,” said Susan Spence, Chair of the ISM.
Published on 2025-11-03

US Manufacturing Sector Shrinks at a Faster Pace: ISM
The ISM US Manufacturing PMI fell to 48.7 in October 2025 from 49.1 in September, below market forecasts of 49.5, indicating an eighth consecutive month of contraction in the manufacturing sector. Production shrank (48.2 vs 51) and further contractions were also seen in new orders (49.4 vs 48.9), employment (46 vs 45.3) and inventories (45.8 vs 47.7). Meanwhile, price pressures eased (58 vs 61.9).
Published on 2025-11-03

ISM Manufacturing PMI Remains in Contraction
The ISM US Manufacturing PMI rose to 49.1 in September 2025, up from 48.7 in August and slightly above market expectations of 49.0. The reading marked the seventh consecutive month of contraction, though it was the strongest in the current downturn. A rebound in production (51.0 vs. 47.8) was offset by a drop in new orders (48.9 vs. 51.4). Employment also continued to decline, albeit at a slower pace (45.3 vs. 43.8).
Published on 2025-10-01

US Manufacturing Sector Remains in Contraction: ISM
The ISM US Manufacturing PMI rose to 49.1 in September 2025, up from 48.7 in August and slightly above market expectations of 49.0. The reading marked the seventh consecutive month of contraction, though it was the strongest in the current downturn. A rebound in production (51.0 vs. 47.8) was offset by a decline in new orders (48.9 vs. 51.4). Employment continued to fall, albeit at a slower pace (45.3 vs. 43.8), while customers’ inventories (43.7 vs. 44.6) and order backlogs (46.2 vs. 44.7) also contracted, pointing to continued softness in demand. The input prices gauge eased to 61.9 from 63.7 but remained elevated, indicating persistent cost pressures despite some moderation.
Published on 2025-10-01

US Manufacturing Sector Remains in Contraction: ISM
The ISM US Manufacturing PMI rose to 49.1 in September 2025, up from 48.7 in August and slightly above market expectations of 49.0. The reading marked the seventh consecutive month of contraction, though it was the strongest in the current downturn. A rebound in production (51.0 vs. 47.8) was offset by a decline in new orders (48.9 vs. 51.4). Employment continued to fall, albeit at a slower pace (45.3 vs. 43.8), while customers’ inventories (43.7 vs. 44.6) and order backlogs (46.2 vs. 44.7) also contracted, pointing to continued softness in demand. The input prices gauge eased to 61.9 from 63.7 but remained elevated, indicating persistent cost pressures despite some moderation. Survey respondents cited tariffs, high costs, and weak demand as key challenges, with many holding off on capital projects, cutting costs, and facing delayed orders, particularly in machinery, metals, and semiconductors.
Published on 2025-10-01

US Manufacturing Sector Remains in Contraction: ISM
The ISM US Manufacturing PMI rose to 49.1 in September 2025, up from 48.7 in August and slightly above market expectations of 49.0. The reading marked the seventh consecutive month of contraction, though it was the strongest in the current downturn. A rebound in production (51.0 vs. 47.8) was offset by a decline in new orders (48.9 vs. 51.4). Employment continued to fall, albeit at a slower pace (45.3 vs. 43.8), while customers’ inventories (43.7 vs. 44.6) and order backlogs (46.2 vs. 44.7) also contracted, pointing to continued softness in demand. The input prices gauge eased to 61.9 from 63.7 but remained elevated, indicating persistent cost pressures despite some moderation. Survey respondents cited tariffs, high costs, and weak demand as key challenges, with many holding off on capital projects, cutting costs, and facing delayed orders, particularly in machinery, metals, and semiconductors.
Published on 2025-10-01

US Manufacturing PMI Misses Forecast: ISM
The ISM US Manufacturing PMI increased to 48.7 in August 2025 from 48.0 in July, though it fell short of market expectations of 49.0. The index signaled a sixth straight month of contraction, as a sharp drop in production (47.8 vs. 51.4) was only partly offset by a rebound in new orders (51.4 vs. 47.1). Employment continued to fall, though at a slightly slower pace (43.8 vs. 43.4). Customers’ inventories (44.6 vs. 45.7) and order backlogs (44.7 vs. 46.8) shrank more quickly, pointing to weaker demand conditions. The gauge for input price inflation eased to 63.7 from 64.8 but remained elevated overall. Survey respondents overwhelmingly pointed to tariffs as a drag on business conditions, citing higher costs, supply chain disruptions, and reduced competitiveness.
Published on 2025-09-02

US ISM Manufacturing PMI Below Expectations
The ISM US Manufacturing PMI increased to 48.7 in August 2025 from 48.0 in July, though it fell short of market expectations of 49.0. The reading marked a sixth consecutive month of contraction, as declines in production and employment outweighed a rebound in new orders.
Published on 2025-09-02