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. source: Institute for Supply Management

Business Confidence in the United States increased to 54 points in May from 52.70 points in April of 2026. Business Confidence in the United States averaged 52.81 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 June of 2026.

Business Confidence in the United States increased to 54 points in May from 52.70 points in April of 2026. Business Confidence in the United States is expected to be 52.50 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
2026-05-01 02:00 PM
ISM Manufacturing PMI
Apr 52.7 52.7 53 52.5
2026-06-01 02:00 PM
ISM Manufacturing PMI
May 54.0 52.7 53 53
2026-07-01 02:00 PM
ISM Manufacturing PMI
Jun 54.0 52.5



Components Last Previous Unit Reference
ISM Manufacturing Backlog of Orders 52.20 51.40 points May 2026
ISM Manufacturing Employment 48.60 46.40 points May 2026
ISM Manufacturing Inventories 49.90 49.00 points May 2026
ISM Manufacturing New Orders 56.80 54.10 points May 2026
ISM Manufacturing Prices 82.10 84.60 points May 2026
ISM Manufacturing Production 54.30 53.40 points May 2026
ISM Manufacturing Supplier Deliveries 60.60 60.60 points May 2026

Related Last Previous Unit Reference
ISM Manufacturing PMI 54.00 52.70 points May 2026
Dallas Fed Manufacturing Index 0.40 -2.30 points May 2026
Manufacturing Production YoY 1.30 0.60 percent Apr 2026
Philadelphia Fed Manufacturing Index -0.40 26.70 points May 2026
Richmond Fed Manufacturing Index 13.00 3.00 points May 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
54.00 52.70 77.50 29.40 1948 - 2026 points Monthly
SA

News Stream
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
US Manufacturing Growth Steady in April
The ISM Manufacturing PMI for the US remained unchanged at 52.7 in April 2026, matching its highest level since August 2022 but falling short of market expectations for a rise to 53.0. New orders grew at a faster pace (54.1 vs. 53.5 in March), and supplier deliveries lengthened further (60.6 vs. 58.9), while production expanded at a slower rate (53.4 vs. 55.1), and employment levels declined at the sharpest pace in four months (46.4 vs. 48.7). Prices surged at the fastest rate since April 2022, driven by rising oil and diesel costs linked to the Middle East conflict. According to Susan Spence, Chair of the ISM Manufacturing Business Survey Committee, sentiment among panelists remained mixed in the second month of the Iran War. While 31% of comments were positive, 69% were negative, a ratio of 1 to 2.2. The war was mentioned in 47% of responses, with tariffs referenced in 18%. Some panelists addressed both issues in a single comment, often with conflicting sentiment.
2026-05-01
ISM Manufacturing PMI Above Forecasts, Prices Soar
The ISM Manufacturing PMI for the US increased to 52.7 in March 2026 from 52.4 in February and above forecasts of 52.5. The reading pointed to the strongest growth in factory activity since August 2022, led by a faster increase in production (55.1 vs 53.5) while new orders slowed (53.5 vs 55.8) and employment contracted slightly faster (48.7 vs 48.8). Also, the prices index jumped to 78.3, the highest since June 2022, from 70.5. “The Supplier Deliveries Index indicated a further slowing for the fourth month in a row (58.9 vs 55.1). March "also marks the first report with panelists citing the Iran war as a new impact to their business, along with ongoing uncertainty with U.S. economic policy, despite the recent Supreme Court ruling striking down International Emergency Economic Powers Act (IEEPA) tariffs. In March, 64% of comments overall were negative. Among the negative comments, about 20% cited tariffs and about 40% the war in the Middle East", Susan Spence, Chair of the ISM said.
2026-04-01