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US Manufacturing Growth at Four-Year High
The S&P Global US Manufacturing PMI climbed to 55.1 in May 2026, up from 54.5 in April but slightly below the preliminary estimate of 55.3. This marked the strongest monthly expansion in the sector since May 2022, driven by the sharpest increase in production since April 2022 and another month of robust new orders. Stockpiling also contributed, as companies sought to mitigate risks from rising prices and supply chain disruptions tied to the Middle East conflict. However, exports declined for the eleventh consecutive month, with firms attributing the drop to geopolitical instability and tariffs. Employment growth, though modest, reached a five-month high, while purchasing activity increased solidly. Supplier delivery times worsened the most since August 2022. On pricing, both input costs and output charges rose at the fastest pace in nearly four years. Business confidence, meanwhile, fell to a four-month low.
Published on 2026-06-01

US Manufacturing Growth Strongest Since 2022
The S&P Global US Manufacturing PMI rose to 55.3 in May 2026, up from 54.5 in April and beating market expectations of 53.8, preliminary data showed. This marks the strongest manufacturing expansion since May 2022, with output growing at the fastest pace in over four years and job creation at its highest since June 2025. New order growth slowed but remained the second-strongest in four years, partly driven by precautionary stockpiling by clients amid the Middle East conflict. Input inventories also boosted the PMI, rising at the sharpest rate in 11 months, though this partly reflected safety stock building amid price and supply concerns. Supplier delivery times lengthened the most since August 2022.
Published on 2026-05-21

US Manufacturing Growth Strongest Since 2022
The S&P Global US Manufacturing PMI rose to 55.3 in May 2026, up from 54.5 in April and beating market expectations of 53.8, preliminary data showed. This marks the strongest manufacturing expansion since May 2022, with output growing at the fastest pace in over four years and job creation at its highest since June 2025. New order growth slowed but remained the second-strongest in four years, partly driven by precautionary stockpiling by clients amid the Middle East conflict. Input inventories also boosted the PMI, rising at the sharpest rate in 11 months, though this partly reflected safety stock building amid price and supply concerns. Supplier delivery times lengthened the most since August 2022.
Published on 2026-05-21

US Manufacturing Sector Grows the Most Since 2022
The S&P Global US Manufacturing PMI was revised upward to 54.5 in April 2026, from a preliminary estimate of 54.0 and above March’s 52.3, indicating the strongest expansion in the manufacturing sector since May 2022. New orders increased at the fastest pace in four years, despite an eleventh consecutive monthly decline in exports due to tariffs and the Middle East conflict. Output growth accelerated to its highest level since April 2022, driven by stockpiling efforts to mitigate rising price and supply pressures tied to the war. Finished goods inventories recorded their first net increase in three months. Purchasing activity rose at the sharpest rate in four years, while employment levels fell for the first time in nine months, and by the most in a year and a half. On the price front, input cost inflation reached a ten-month high, and output charges rose at the fastest pace since June 2025. Business confidence also improved to its highest level since February 2025.
Published on 2026-05-01

US Manufacturing PMI Jumps to Near Four-Year High
The S&P Global US Manufacturing PMI climbed to 54.0 in April 2026, up from 52.3 in March and surpassing market expectations of 52.5, according to preliminary data. This marks the strongest improvement in factory business conditions since May 2022, driven by production growth hitting a four-year high and new orders rising at the fastest pace since May 2022. Input inventories also contributed positively, increasing marginally but at the quickest rate since January. Supplier delivery times lengthened significantly, the most since August 2022, boosting the PMI, though some delays stemmed from Middle East war-related supply constraints rather than pure demand-driven vendor activity. The sole negative factor was employment, which contracted for the first time since July 2025.
Published on 2026-04-23

US Manufacturing Growth Remains Solid in March
The S&P Global US Manufacturing PMI held at 52.3 in March 2026, slightly below the preliminary estimate of 52.4 but up from 51.6 in February. The reading signals solid expansion in the sector, driven by stronger output and new orders, particularly from domestic demand, as businesses stockpiled supplies and secured pricing amid the Middle East conflict. However, international sales continued to decline, hampered by tariffs and shipping challenges. Employment levels remained flat, while supplier delivery times worsened to the greatest extent in 3.5 years, reflecting war-related transportation disruptions and vendor stock shortages. Cost pressures intensified, with input inflation reaching its highest level since August 2025 and output charges rising at the fastest pace in seven months. Business confidence dipped slightly, as firms expressed concerns over rising energy prices and tariffs.
Published on 2026-04-01

US Manufacturing PMI Above Expectations in March
The S&P Global US Manufacturing PMI climbed to 52.4 in March 2026, up from 51.6 in February and exceeding market expectations of 51.3, according to preliminary data. Production growth picked up, while new orders saw their strongest rise since October 2025, supported by stabilizing export demand after eight months of decline. Firms reported easing tariff pressures and stockpiling due to fears of prolonged Middle East war disruptions and potential price spikes. However, employment growth slowed to an eight-month low, and supplier delivery times lengthened to levels not seen since October 2022. Input and output prices surged, reflecting rising costs. Despite war-related concerns, business confidence reached a 13-month high, driven by reduced tariff worries and optimism over stronger domestic demand for US goods.
Published on 2026-03-24

US Manufacturing Activity Revised Higher: S&P Global
The S&P Global US Manufacturing PMI fell to 51.6 in February of 2026 from 53.4 in the previous month, revised higher from the preliminary estimate of 51.6 but remaining below the initial market expectations of 52.6. Still, the result reflected a seventh straight expansion in the sector's activity. New orders continued to increase, albeit at a softer pace as goods producers noted that high prices, tariffs, and adverse weather conditions dented client demand. The panel also noted that sales were increasingly dependent on domestic clients as the fallout of tariffs and retaliation from the White House against key trading partners drove exports to decline for an eighth month. Consequently, companies pared the pace of hiring and employment levels rose only fractionally. Looking ahead, business optimism improved despite the tariffs and higher inflation for raw materials.
Published on 2026-03-02

US Manufacturing Activity Revised Higher
The S&P Global US Manufacturing PMI fell to 51.6 in February of 2026 from 53.4 in the previous month, revised higher from the preliminary estimate of 51.6 but remaining below the initial market expectations of 52.6. Still, the result reflected a seventh straight expansion in the sector's activity. New orders continued to increase, albeit at a softer pace as goods producers noted that high prices, tariffs, and adverse weather conditions dented client demand. The panel also noted that sales were increasingly dependent on domestic clients as the fallout of tariffs and retaliation from the White House against key trading partners drove exports to decline for an eighth month. Consequently, companies pared the pace of hiring and employment levels rose only fractionally. Looking ahead, business optimism improved despite the tariffs and higher inflation for raw materials.
Published on 2026-03-02

US Manufacturing Growth Eases: S&P Global
The S&P Global US Manufacturing PMI fell to 51.2 in February from 52.4 in January, below expectations of 52.6, pointing to a seventh straight month of expansion but the weakest improvement in that period. Factory output growth slowed to its lowest level since July, while new orders edged down for the second time in three months, signaling softer demand. Employment growth nearly stalled, marking the smallest rise since last July as firms grew more cautious. Inventories of purchases declined for the first time since July and at the fastest pace in 13 months, reflecting lower input needs and supply constraints. Supplier delivery times lengthened to the most since October 2022 due to delays, shortages and adverse weather, highlighting ongoing pressures in supply chains despite moderating activity.
Published on 2026-02-20

US Manufacturing PMI Signals Stronger Expansion in January
The S&P Global US Manufacturing PMI increased to 52.4 in January 2026, above the preliminary estimate of 51.9 and up from December’s five-month low of 51.8. The latest reading points to a firmer pace of expansion in manufacturing activity, broadly in line with the survey’s long-run average. Output rose sharply, marking the strongest increase since last August and the joint-fastest pace since May 2022. New orders posted a modest rebound, though overall demand remained constrained by a seventh straight monthly decline in export orders, reflecting the impact of tariffs and persistent trade uncertainty. Hiring remained positive but job growth eased to a three-month low. On the inflation front, input cost pressures strengthened, while manufacturers raised selling prices at the fastest pace since August. Business confidence was unchanged, with geopolitical risks and rising costs continuing to weigh on the outlook.
Published on 2026-02-02

US Manufacturing Shows Modest Momentum in January
The S&P Global US Manufacturing PMI inched up to 51.9 in January 2026, virtually unchanged from December’s 51.8 and broadly in line with market expectations of 52, according to preliminary data. Despite the slight uptick, the index continued to point to the second-weakest improvement in factory business conditions since July, as employment growth slowed to a six-month low. Output growth, however, accelerated to its strongest pace since last August, while new orders rebounded after declining in December. Supplier delivery times lengthened, though at a more moderate pace, and inventories of purchased inputs remained broadly unchanged.
Published on 2026-01-23

US Manufacturing Shows Modest Momentum in January
The S&P Global US Manufacturing PMI inched up to 51.9 in January 2026, virtually unchanged from December’s 51.8 and broadly in line with market expectations of 52, according to preliminary data. Despite the slight uptick, the index continued to point to the second-weakest improvement in factory business conditions since July, as employment growth slowed to a six-month low. Output growth, however, accelerated to its strongest pace since last August, while new orders rebounded after declining in December. Supplier delivery times lengthened, though at a more moderate pace, and inventories of purchased inputs remained broadly unchanged.
Published on 2026-01-23

US Manufacturing Growth Slows in December
The S&P Global US Manufacturing PMI was confirmed at 51.8 in December 2025, down from 52.2 in November, marking the weakest expansion in the current five-month growth phase. New orders declined for the first time in a year, while exports fell for a seventh consecutive month, weighed down by tariffs and trade frictions. Output growth also moderated, even as firms continued to build inventories for a fifth straight month, though at a slower pace than November’s record accumulation. Employment rose solidly as manufacturers filled vacancies in anticipation of stronger conditions in 2026. On the price front, input cost inflation eased to an 11-month low but remained historically elevated, while selling price increases slowed to their weakest pace since early 2025, still running above long-term norms. Overall business confidence deteriorated, reflecting softer order inflows and persistent uncertainty surrounding tariffs and trade policy.
Published on 2026-01-02

US Manufacturing Activity Weakest in 5 Months
The S&P Global US Flash Manufacturing PMI fell to 51.8 in December 2025, the lowest in five months, compared to 52.2 in November and forecasts of 52. The reading pointed to a weaker improvement in manufacturing business conditions, as production growth dipped to a three-month low and new orders fell for the first time since December 2024. Input inventories also grew at a slower pace. On the other hand, employment rose the most since August, and suppliers’ delivery times lengthened to the greatest extent since September.
Published on 2025-12-16

US Manufacturing PMI Lowest in 5 Months: S&P Global
The S&P Global US Flash Manufacturing PMI fell to 51.8 in December 2025, the lowest in five months, compared to 52.2 in November and forecasts of 52. The reading pointed to a weaker improvement in manufacturing business conditions, as production growth dipped to a three-month low and new orders fell for the first time since December 2024. Input inventories also grew at a slower pace. On the other hand, employment rose the most since August, and suppliers’ delivery times lengthened to the greatest extent since September.
Published on 2025-12-16

US Manufacturing PMI Shows Steady Expansion in November
The S&P Global US Manufacturing PMI registered 52.2 in November 2025, slightly above the preliminary estimate of 51.9 but down from October’s final reading of 52.5. The latest result signals another month of solid, though moderating, improvement in operating conditions across the sector, underpinned by the strongest rise in output since August, supported in part by a pickup in new orders. Still, overall demand expanded only modestly amid persistent market uncertainty. Finished-goods inventories surged at a record pace for the second straight month, reflecting softer-than-expected sales, while employment growth reached a three-month high. On the pricing side, input cost inflation remained elevated due to tariff pressures. Firms continued to pass on higher costs through increased selling prices, though the pace of inflation eased to one of the lowest levels seen this year. Business sentiment strengthened notably, with confidence hitting its highest level since June.
Published on 2025-12-01

US Manufacturing PMI at 4-Month Low: S&P Global
The S&P Global Flash US Manufacturing PMI fell to 51.9 in November 2025, the lowest in four months, from 52.5 in October, compared to forecasts of 52. Despite the decline, the PMI still indicated an improvement in factory business conditions for the tenth time in the past eleven months. Production growth dipped slightly but remained solid by recent standards, and employment rose at the fastest rate since August. However, new order book growth weakened from October’s strong reading. In contrast, a greater lengthening of lead times acted as a stronger positive influence. Inventories of inputs were meanwhile largely unchanged.
Published on 2025-11-21

U Manufacturing PMI at 4-Month Low
The S&P Global Flash US Manufacturing PMI fell to 51.9 in November 2025, the lowest in four months, from 52.5 in October, compared to forecasts of 52. Despite the decline, the PMI still indicated an improvement in factory business conditions for the tenth time in the past eleven months. Production growth dipped slightly but remained solid by recent standards, and employment rose at the fastest rate since August. However, new order book growth weakened from October’s strong reading. In contrast, a greater lengthening of lead times acted as a stronger positive influence. Inventories of inputs were meanwhile largely unchanged.
Published on 2025-11-21

US Manufacturing PMI at 4-Month Low
The S&P Global Flash US Manufacturing PMI fell to 51.9 in November 2025, the lowest in four months, from 52.5 in October, compared to forecasts of 52. Despite the decline, the PMI still indicated an improvement in factory business conditions for the tenth time in the past eleven months. Production growth dipped slightly but remained solid by recent standards, and employment rose at the fastest rate since August. However, new order book growth weakened from October’s strong reading. In contrast, a greater lengthening of lead times acted as a stronger positive influence. Inventories of inputs were meanwhile largely unchanged.
Published on 2025-11-21