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US Manufacturing Activity Revised Lower: S&P Global
US manufacturing activity continued to expand in October, although the S&P Global Manufacturing PMI was revised down to 54.9 from an initial estimate of 56, compared with 55.9 in September. Output increased for a seventeenth straight month, while new orders rose at their slowest pace since March, partly reflecting the impact of tariffs on international sales. Meanwhile, manufacturers faced intensifying cost and supply pressures. Higher energy, fuel, transportation and metal prices, alongside tariffs, pushed input cost inflation to its highest level since May’s near four-year peak. Companies responded by raising selling prices, with output price inflation reaching its highest level since September 2022. Supply-chain disruptions also lengthened delivery times, while manufacturers increased purchasing and inventories. Rising orders and delayed inputs pushed backlogs higher, prompting firms to expand employment at the fastest pace in five and a half years.
Published on 2026-11-02

US Manufacturing Conditions Strongest Since 2022
The S&P Global US Manufacturing PMI edged up to 56 in October 2026 from 55.9 in September, beating forecasts of 55.5, preliminary estimates showed. The reading pointed to the strongest improvement in operating conditions in manufacturing since May 2022. Although production and new orders growth rates slowed, both remained elevated to register sustained strong expansions. Jobs growth meanwhile accelerated further to reach the highest since March 2012, and input inventories rose at the fastest rate for four months. Suppliers’ delivery times meanwhile lengthened to the greatest degree since July 2022.
Published on 2026-10-23

US Manufacturing Growth Accelerates to Four-Year High
The S&P Global US Manufacturing PMI fell to 55.9 in September 2026 from a preliminary estimate of 57.0, but remained above August’s 53.9. The latest reading was the strongest since May 2022, as output and new orders expanded at faster rates. Firms reported a broad-based pickup in demand, with government and technology-related industries driving higher sales. New business rose at its fastest pace since April and the second-strongest since May 2022. In response, manufacturers sharply increased production, extending the current growth streak to 16 months. Export sales, however, continued to decline amid tariffs and elevated shipping costs. Employment growth also accelerated to its strongest level in more than five years, despite reports of difficulties finding suitable workers. At the same time, vendor lead times lengthened at the fastest pace since August 2022, while inflationary pressures intensified. Business confidence nevertheless remained positive.
Published on 2026-10-01

US Manufacturing Growth Accelerates Sharply in September
The S&P Global US Manufacturing PMI jumped to 57.0 in September 2026 from 53.9 in August, well above market expectations of 53.6, according to the flash estimate. The reading marked the strongest improvement in manufacturing business conditions since May 2022, with all five components contributing to the increase. Production growth rebounded after weakening over the previous three months, reaching its fastest pace since April 2022, while new orders accelerated to their strongest rate in nearly four and a half years. Employment growth rose to its highest level since February 2021, while inventories also increased at a faster pace. Meanwhile, supplier delivery times lengthened to the greatest extent since July 2022.
Published on 2026-09-23

US Manufacturing Growth Accelerates Sharply in September
The S&P Global US Manufacturing PMI jumped to 57.0 in September 2026 from 53.9 in August, well above market expectations of 53.6, according to the flash estimate. The reading marked the strongest improvement in manufacturing business conditions since May 2022, with all five components contributed to the increase. Production growth rebounded after weakening over the previous three months, reaching its fastest pace since April 2022, while new orders also accelerated to their strongest rate in nearly four and a half years. Employment growth rose to its highest level since February 2021, and inventories increased at a faster pace. Meanwhile, supplier delivery times lengthened to the greatest extent since July 2022.
Published on 2026-09-23

US Manufacturing Growth Accelerates Sharply in September
The S&P Global US Manufacturing PMI jumped to 57.0 in September 2026 from 53.9 in August, well above market expectations of 53.6, according to the flash estimate. The reading marked the strongest improvement in manufacturing business conditions since May 2022, with all five components contributed to the increase. Production growth rebounded after weakening over the previous three months, reaching its fastest pace since April 2022, while new orders also accelerated to their strongest rate in nearly four and a half years. Employment growth rose to its highest level since February 2021, and inventories increased at a faster pace. Meanwhile, supplier delivery times lengthened to the greatest extent since July 2022.
Published on 2026-09-23

US Manufacturing Activity Revised Higher: S&P Global
The S&P Global US Manufacturing PMI was at 53.9 for a third consecutive month in August of 2026, revised higher from the flash estimate of 53.2, and aligned with the initial market expectations. Both output and new order growth eased in the period. Surveyees noted higher cost levels, with input inflation remaining well above the historical levels due to tariff uncertainties and the war in the Middle East, forcing companies to raise their charges. These developments drove firms to cite muted client appetite, resulting in the slowdown for new business. Still, higher production environments had manufacturers raise their purchasing activity for the eighth month running. Looking ahead, companies remained optimistic about their business, underpinning another period of employment growth.
Published on 2026-09-01

US Manufacturing Activity Loses Momentum in August: S&P Global
The S&P Global US Manufacturing PMI eased to 53.2 in August 2026 from 53.9 prevously, undershooting market expectations of 53.9, according to the preliminary estimate. The latest reading pointed to a moderation in manufacturing activity, with growth at its weakest since March, partly due to higher fuel costs, reduced inventory building and raw material shortages linked to supply delays. Production growth slowed for a third consecutive month, reaching its weakest pace since July last year. New orders held up better but also lost momentum, expanding at their slowest rate since March. Input purchases fell for the first time since February, weighing on the PMI, while longer supplier delivery times provided support despite a slight easing in delays. Employment also contributed positively, with factory payrolls rising modestly at the fastest pace since May.
Published on 2026-08-21

US Manufacturing Activity Loses Momentum: S&P Global
The S&P Global US Manufacturing PMI eased to 53.2 in August 2026 from 53.9 prevously, undershooting market expectations of 53.9, according to the preliminary estimate. The latest reading pointed to a moderation in manufacturing activity, with growth at its weakest since March, held back by higher fuel costs, reduced inventory building and raw material shortages linked to supply delays. Production growth slowed for a third consecutive month, reaching its weakest pace since July last year. New orders held up better but also lost momentum, expanding at their slowest rate since March. Input purchases fell for the first time since February, weighing on the PMI, while longer supplier delivery times provided support despite a slight easing in delays. Employment also contributed positively, with factory payrolls rising modestly at the fastest pace since May.
Published on 2026-08-21

US Manufacturing Activity Loses Momentum: S&P Global
The S&P Global US Manufacturing PMI eased to 53.2 in August 2026 from 53.9 prevously, undershooting market expectations of 53.9, according to the preliminary estimate. The latest reading pointed to a moderation in manufacturing activity, with growth at its weakest since March, partly due to higher fuel costs, reduced inventory building and raw material shortages linked to supply delays. Production growth slowed for a third consecutive month, reaching its weakest pace since July last year. New orders held up better but also lost momentum, expanding at their slowest rate since March. Input purchases fell for the first time since February, weighing on the PMI, while longer supplier delivery times provided support despite a slight easing in delays. Employment also contributed positively, with factory payrolls rising modestly at the fastest pace since May.
Published on 2026-08-21

US Factory Growth Slows to 5-Month Low: S&P Global
The S&P Global US Manufacturing PMI eased to 53.2 in August 2026 from 53.9 prevously, undershooting market expectations of 53.9, flash estimates showed. The latest reading pointed to a moderation in manufacturing activity, with growth at its weakest since March, held back by higher fuel costs, reduced inventory building and raw material shortages linked to supply delays. Output growth slowed for a third consecutive month, reaching its weakest pace since July last year. New orders held up better but also lost momentum, expanding at their slowest rate since March. Input purchases fell for the first time since February, weighing on the PMI, while supply times lengthened sharply again, Employment rose modestly at the fastest pace since May. Price pressures moderated, especially in terms of selling price inflation, although nput cost inflation remained elevated by historical standards.due to high energy prices, squeezed supply lines, and tariffs. Lastly, business sentiment improved.
Published on 2026-08-21

US Manufacturing Activity Loses Momentum: S&P Global
The S&P Global US Manufacturing PMI eased to 53.2 in August 2026 from 53.9 prevously, undershooting market expectations of 53.9, according to the preliminary estimate. The latest reading pointed to a moderation in manufacturing activity, with growth at its weakest since March, held back by higher fuel costs, reduced inventory building and raw material shortages linked to supply delays. Output growth slowed for a third consecutive month, reaching its weakest pace since July last year. New orders held up better but also lost momentum, expanding at their slowest rate since March. Input purchases fell for the first time since February, weighing on the PMI, while longer supplier delivery times provided support despite a slight easing in delays. Employment rose modestly at the fastest pace since May. Input cost inflation moderated for a third month, but remained elevated by historical standards.on high energy prices, squeezed supply lines, and tariffs.
Published on 2026-08-21

US Factory Growth Slows to 5-Month Low: S&P Global
The S&P Global US Manufacturing PMI eased to 53.2 in August 2026 from 53.9 prevously, undershooting market expectations of 53.9, according to the preliminary estimate. The latest reading pointed to a moderation in manufacturing activity, with growth at its weakest since March, held back by higher fuel costs, reduced inventory building and raw material shortages linked to supply delays. Output growth slowed for a third consecutive month, reaching its weakest pace since July last year. New orders held up better but also lost momentum, expanding at their slowest rate since March. Input purchases fell for the first time since February, weighing on the PMI, while longer supplier delivery times provided support despite a slight easing in delays. Employment rose modestly at the fastest pace since May. Input cost inflation moderated for a third month, but remained elevated by historical standards.on high energy prices, squeezed supply lines, and tariffs.
Published on 2026-08-21

US Manufacturing Sector Expansion Holds Steady
The S&P Global US Manufacturing PMI was revised slightly higher to 53.9 in July 2026 from the preliminary estimate of 53.8, matching June's reading and signaling another month of solid expansion in factory activity. Operating conditions have now improved for 12 consecutive months, although momentum softened. Output growth eased to its weakest pace since March, while new orders increased at a slower rate for the third straight month. Export orders continued to decline amid tariff pressures and subdued overseas demand. Supply chain disruptions remained severe, with supplier delivery times deteriorating at one of the fastest rates in four years, contributing to material shortages. Input cost inflation, driven by higher energy prices and tariffs, eased to a four-month low but remained elevated, prompting manufacturers to continue raising selling prices. Business confidence stayed positive but slipped to its weakest level since October 2025.
Published on 2026-08-03

US Manufacturing Growth Eases Slightly in July
The S&P Global US Manufacturing PMI edged down to 53.8 in July 2026 from 53.9 in June, falling short of market expectations of 54.3, according to the preliminary estimate. Despite the slight decline, the index remained close to its highest levels in more than four years. The modest slowdown reflected a sharp easing in production growth, which weakened to its slowest pace since March, while new orders expanded at the weakest rate in four months. Slower inventory accumulation, following exceptionally strong stockbuilding in May and June, also weighed on the headline PMI. These headwinds were partly offset by a renewed increase in factory employment and longer supplier delivery times. Unlike the delays typically associated with strong demand, the latest deterioration in supplier performance was primarily linked to supply disruptions stemming from the Middle East.
Published on 2026-07-24

US Manufacturing Growth Eases Slightly in July
The S&P Global US Manufacturing PMI edged down to 53.8 in July 2026 from 53.9 in June, falling short of market expectations of 54.3, according to the preliminary estimate. Despite the slight decline, the index remained close to its highest levels in more than four years. The modest slowdown reflected a sharp easing in production growth, which weakened to its slowest pace since March, while new orders expanded at the weakest rate in four months. Slower inventory accumulation, following exceptionally strong stockbuilding in May and June, also weighed on the headline PMI. These headwinds were partly offset by a renewed increase in factory employment and longer supplier delivery times. Unlike the delays typically associated with strong demand, the latest deterioration in supplier performance was primarily linked to supply disruptions stemming from the Middle East.
Published on 2026-07-24

US Manufacturing PMI Revised Down in June
The S&P Global US Manufacturing PMI was sharply revised down to 53.9 in June 2026, significantly below the preliminary estimate of 55.7 and May’s final reading of 55.1. Despite the drop, the latest figure marked the eleventh straight month of expansion, indicating a solid improvement in operating conditions, though the weakest in three months. Output and new orders continued to rise, albeit at slower yet historically strong rates, driven by new product launches and pre-orders to hedge against rising prices. Input costs increased sharply due to higher raw material prices, though the rise was softer than May’s peak. Selling price inflation also eased to a three-month low. However, job cuts accelerated to the fastest pace since May 2020, the quickest outside the pandemic since October 2009. Business optimism for the year ahead also declined for the second consecutive month, hitting its lowest level since October 2025.
Published on 2026-07-01

US Manufacturing Growth Strongest Since 2022
The S&P Global US Manufacturing PMI increased to 55.7 in June 2026 from 55.1 in May, surpassing market forecasts of 54.8 and reaching its highest level since May 2022. This expansion signifies that factory business conditions have improved continuously since last August, with growth steadily accelerating from the recent low point in February. Driving this upward momentum, production growth accelerated at the fastest pace since July 2021, propelled by the largest surge in new orders since April 2022. Additionally, input inventories experienced their biggest increase since May 2025, marking the second steepest rise in the history of the survey. The PMI also benefited from the most significant lengthening of supplier delivery times recorded since August 2022. Conversely, the overall index gains were partially constrained by a substantial decline in employment, which represented the sharpest drop in manufacturing workforce levels since May 2020.
Published on 2026-06-23

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