The ISM Manufacturing PMI for the United States increased to 56 in August of 2020 from 54.2 in July, beating market forecasts of 54.5. The reading pointed to the biggest expansion in the manufacturing sector since November of 2018 as August was the first full month of operations after supply chains restarted and adjustments were made for employees to return to work. The new orders subindex reached the highest since December of 2017 (67.6 vs 61.5) and production (63.3 vs 62.1), backlogs of orders (54.6 vs 51.8) and export orders (53.3 vs 50.4) went up faster. Also, employment fell at a slower pace (46.4 vs 44.3) and price pressures were the strongest since November of 2018 (59.5 vs 53.2) while inventories fell more (44.4 vs 47). Of the 18 manufacturing industries, 15 reported growth in August. Also, sentiment was generally optimistic.
Business Confidence in the United States averaged 52.87 points from 1948 until 2020, 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 September of 2020. source: Institute for Supply Management
Business Confidence in the United States is expected to be 49.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in the United States to stand at 53.00 in 12 months time. In the long-term, the United States ISM Purchasing Managers Index (PMI) is projected to trend around 53.40 points in 2021 and 52.40 points in 2022, according to our econometric models.