The ISM Manufacturing PMI for the US rose to 55.6 in July 2026 from 53.3 in June, beating market expectations of 54.0 and signaling the strongest expansion in factory activity since May 2022. The improvement was driven by a sharp acceleration in output that was the fastest since November 2021 (58.5 vs. 52.2) and solid growth in new orders (56.7 vs. 56.0). Employment also returned to expansion for the first time since January 2025, with the employment index rising to 52.8 from 49.7, its highest level since August 2022. Meanwhile, cost pressures eased, while the Supplier Deliveries Index indicated slowing performance for the eighth month in a row. Manufacturing continued to benefit from businesses front-loading orders to avoid potential supply disruptions and higher costs linked to the US-Israeli conflict with Iran. At the same time, strong AI-related investment helped offset the impact of import tariffs, while low business inventories left room for further expansion. source: Institute for Supply Management

Business Confidence in the United States increased to 55.60 points in July from 53.30 points in June of 2026. Business Confidence in the United States averaged 52.82 points from 1948 until 2026, 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 Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2026.

Business Confidence in the United States increased to 55.60 points in July from 53.30 points in June of 2026. Business Confidence in the United States is expected to be 54.00 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 Manufacturing PMI is projected to trend around 52.00 points in 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-07-01 02:00 PM
ISM Manufacturing PMI
Jun 53.3 54.0 54 53.6
2026-08-03 02:00 PM
ISM Manufacturing PMI
Jul 55.6 53.3 54 53.7
2026-09-01 02:00 PM
ISM Manufacturing PMI
Aug 55.6 55



Components Last Previous Unit Reference
ISM Manufacturing Backlog of Orders 55.00 50.50 points Jul 2026
ISM Manufacturing Employment 52.80 49.70 points Jul 2026
ISM Manufacturing Inventories 51.20 51.40 points Jul 2026
ISM Manufacturing New Orders 56.70 56.00 points Jul 2026
ISM Manufacturing Prices 71.10 73.00 points Jul 2026
ISM Manufacturing Production 58.50 52.20 points Jul 2026
ISM Manufacturing Supplier Deliveries 58.90 57.40 points Jul 2026

Related Last Previous Unit Reference
ISM Manufacturing PMI 55.60 53.30 points Jul 2026
Dallas Fed Manufacturing Index 1.30 0.00 points Jul 2026
Manufacturing Production YoY 1.10 1.50 percent Jun 2026
Philadelphia Fed Manufacturing Index 41.40 10.30 points Jul 2026
Richmond Fed Manufacturing Index 5.00 4.00 points Jul 2026


United States ISM Manufacturing PMI
The Manufacturing ISM Report On Business is based on data compiled from purchasing and supply executives nationwide. Survey responses reflect the change, if any, in the current month compared to the previous month. For each of the indicators measured (New Orders, Backlog of Orders, New Export Orders, Imports, Production, Supplier Deliveries, Inventories, Customers' Inventories, Employment and Prices), the report shows the percentage reporting each response, the net difference between the number of responses in the positive economic direction and the negative economic direction, and the diffusion index. A PMI reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally declining.
Actual Previous Highest Lowest Dates Unit Frequency
55.60 53.30 77.50 29.40 1948 - 2026 points Monthly
SA

News Stream
US Manufacturing Activity Expands at Fastest Pace Since 2022
The ISM Manufacturing PMI for the US rose to 55.6 in July 2026 from 53.3 in June, beating market expectations of 54.0 and signaling the strongest expansion in factory activity since May 2022. The improvement was driven by a sharp acceleration in output that was the fastest since November 2021 (58.5 vs. 52.2) and solid growth in new orders (56.7 vs. 56.0). Employment also returned to expansion for the first time since January 2025, with the employment index rising to 52.8 from 49.7, its highest level since August 2022. Meanwhile, cost pressures eased, while the Supplier Deliveries Index indicated slowing performance for the eighth month in a row. Manufacturing continued to benefit from businesses front-loading orders to avoid potential supply disruptions and higher costs linked to the US-Israeli conflict with Iran. At the same time, strong AI-related investment helped offset the impact of import tariffs, while low business inventories left room for further expansion.
2026-08-03
US Manufacturing Sector Growth Cools in June
The ISM Manufacturing PMI for the US fell to 53.3 in June 2026, down from 54.0 in May and below market expectations of 54. The latest reading indicated a slowdown in the manufacturing sector, as both output (52.2 vs. 54.3 in May) and new orders (56.0 vs. 56.8) grew at a slower pace. Employment remained in contraction territory, although the pace of job losses eased, with the employment index rising to 49.7 from 48.6. Meanwhile, the prices index declined sharply to 73.0 from 82.1, indicating some easing in cost pressures, though price growth remained elevated. Survey respondents continued to cite concerns over moderating but still high inflation, driven in part by the conflict in the Middle East. They also pointed to the risk of higher interest rates and ongoing policy uncertainty, particularly surrounding tariffs and global trade, as key headwinds for the manufacturing sector.
2026-07-01
US Factory Growth Strongest in 4 Years
The ISM Manufacturing PMI rose to 54 in May 2026 from 52.7 in each of the previous two months and beating forecasts of 53. The reading pointed to the strongest expansion in the factory sector since May 2022, with faster growth seen for new orders (56.8 vs 54.1), production (54.3 vs 53.4) and backlog of orders (52.2 vs 51.4). Also, employment contracted less (48.6 vs 46.4). Price pressures remained elevated but below the levels seen in April (82.1 vs 84.6). The Supplier Deliveries index stayed the same at 60.6. Meanwhile, the Customers’ Inventories Index remains in ‘too low’ territory, contracting at a slower rate. A ‘too low’ status for the Customers’ Inventories Index is usually considered positive for future production. "Among comments, the Iran war was mentioned in 42 percent and tariffs in 18 percent; 57 percent of the panelists mentioned pricing volatility as an issue for their companies", according to Susan Spence, Chair of the ISM Manufacturing Business Survey Committee.
2026-06-01