The ISM Manufacturing PMI fell to 53 in June of 2022 from 56.1 in May, pointing to the slowest growth in factory activity since June of 2020, and below market forecasts of 54.9. New orders contracted for the first time in two years (49.2 vs 55.1), in a sign rising interest rates are hurting demand. Also, employment declined further (47.3 vs 49.6) although companies improved their progress on addressing moderate-term labor shortages at all tiers of the supply chain. At the same time, supplier deliveries slowed (57.3 vs 65.7) while production (54.9 vs 54.2) and inventories (56 vs 55.9) increased slightly faster and price pressures eased (78.5 vs 82.2). Meanwhile, business sentiment remained optimistic regarding demand, but firms continue to note supply chain and pricing issues as their biggest concerns. source: Institute for Supply Management
Business Confidence in the United States averaged 53.02 points from 1948 until 2022, reaching an all time high of 77.50 points in July of 1950 and a record low of 29.40 points in May of 1980. This page provides the latest reported value for - United States ISM Purchasing Managers Index (PMI) - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States ISM Purchasing Managers Index (PMI) - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.
Business Confidence in the United States is expected to be 51.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States ISM Purchasing Managers Index (PMI) is projected to trend around 56.00 points in 2023 and 52.40 points in 2024, according to our econometric models.