The IHS Markit US Manufacturing PMI was revised up to 52.6 in November of 2019 from a preliminary of 52.2 and 51.3 in October. The reading pointed to the strongest expansion in factory activity in seven months, supported by quicker expansions in production and new orders, with both domestic and foreign client demand strengthening. Business confidence remained historically muted, however, as global economic uncertainty continued to weigh on expectations. Manufacturing PMI in the United States averaged 53.64 from 2012 until 2019, reaching an all time high of 57.90 in August of 2014 and a record low of 50.30 in August of 2019. source: Markit Economics

Manufacturing PMI in the United States is expected to be 50.70 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in the United States to stand at 50.90 in 12 months time. In the long-term, the United States Manufacturing PMI is projected to trend around 50.20 in 2020, according to our econometric models.

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United States Manufacturing PMI

US Manufacturing PMI Revised Higher

The IHS Markit US Manufacturing PMI was revised up to 52.6 in November of 2019 from a preliminary of 52.2 and 51.3 in October. The reading pointed to the strongest expansion in factory activity in seven months, supported by quicker expansions in production and new orders, with both domestic and foreign client demand strengthening. Business confidence remained historically muted, however, as global economic uncertainty continued to weigh on expectations.

The rate of output growth accelerated further from July's recent low in November, with the pace of expansion reaching a ten-month high. Companies commonly linked the upturn in production to stronger client demand.

New order volumes also increased at the fastest pace since January, reportedly buoyed by greater marketing activity and a reduction in hesitancy among customers in placing orders. Foreign client demand also picked up midway through the final quarter, with new export orders increasing at the quickest rate since June. The upturn was often attributed by firms to greater interest from key export partners. 

In line with stronger client demand, manufacturers expanded their workforce numbers, and at the fastest pace since March.

Pressure on capacity was also reflected in the first rise in backlogs of work since June.

Nonetheless, confidence among firms of a rise in output over the coming year remained historically subdued. Ongoing economic uncertainty reportedly weighed on expectations, as the level of optimism slipped to a three-month low.

On the price front, although inflationary pressures intensified in November, the rate of increase in input costs was relatively muted. Where a rise was reported, firms commonly linked this to higher raw material prices, often due to supplier shortages and tariffs. That said, others noted that increases were generally only slight overall. Output charges also rose at a modest pace, the rate of inflation rising to a four-month high, with manufacturers seeking to protect their margins by partly passing higher costs, including tariffs, on to clients.

Finally, goods producers recorded a second successive monthly increase in purchasing activity in November, reportedly stemming from greater production requirements and efforts to replenish stocks following stronger new order growth. 


Markit | Joana Taborda | joana.taborda@tradingeconomics.com
12/2/2019 2:51:50 PM



United States Business Last Previous Highest Lowest Unit
Business Confidence 48.10 48.30 77.50 29.40 Index Points [+]
Services PMI 51.60 50.60 61.00 49.30 Index Points [+]
Non Manufacturing PMI 53.90 54.70 62.00 37.80 [+]
Manufacturing PMI 52.60 51.30 57.90 50.30 [+]
Composite Pmi 52.00 50.90 61.00 50.00 Index Points [+]
Industrial Production -1.10 -0.10 62.00 -33.70 percent [+]
Industrial Production Mom -0.80 -0.30 16.60 -10.40 percent [+]
Manufacturing Production -1.50 -0.90 67.90 -39.40 percent [+]
Capacity Utilization 76.70 77.50 89.39 66.69 percent [+]
Durable Goods Orders 0.60 -1.40 23.20 -18.40 percent [+]
Durable Goods Orders Ex Defense 0.10 -1.80 25.50 -19.20 percent [+]
Durable Goods Orders Ex Transportation 0.60 -0.40 6.30 -10.20 percent [+]
Factory Orders Ex Transportation 0.20 -0.30 4.60 -7.00 percent [+]
New Orders 496962.00 496651.00 549482.00 223500.00 USD Million [+]
Factory Orders 0.30 -0.80 10.40 -9.70 percent [+]
Business Inventories 0.00 -0.10 1.30 -2.00 percent [+]
Changes in Inventories 79.78 69.40 173.21 -245.13 USD Billion [+]
Wholesale Inventories 0.10 -0.70 2.10 -2.00 percent [+]
Bankruptcies 22910.00 22483.00 82446.00 19695.00 Companies [+]
Corporate Profits 1881.19 1857.53 1881.19 14.67 USD Billion [+]
NFIB Business Optimism Index 104.70 102.40 108.80 80.10 Index Points [+]
Ism New York Index 50.40 47.70 88.80 23.40 percent [+]
NY Empire State Manufacturing Index 2.90 4.00 39.00 -34.40 Index Points [+]
Philadelphia Fed Manufacturing Index 10.40 5.60 58.50 -57.90 Index Points [+]
Richmond Fed Manufacturing Index -1.00 8.00 27.00 -44.00 Index Points [+]
Chicago Fed National Activity Index -0.71 -0.45 2.79 -5.28 [+]
Dallas Fed Manufacturing Index -1.30 -5.10 47.60 -59.90 Index Points [+]
Chicago Pmi 46.30 43.20 78.60 21.20 Index Points [+]
Total Vehicle Sales 17.20 17.00 21.77 9.05 Million [+]
Car Production 2.20 2.57 9.92 1.29 Million Units [+]
Car Registrations 385.66 422.17 1149.00 331.50 Thousand [+]
Crude Oil Stocks Change -4.86 1.57 14.42 -15.22 BBL/1Million [+]
Natural Gas Stocks Change -19.00 -28.00 147.00 -359.00 Billion cf [+]
Gasoline Stocks Change 3385.00 5132.00 11456.00 -8428.00 Thousand Barrels [+]
Leading Economic Index 129.35 129.19 129.35 45.48 Index Points [+]
Internet Speed 18747.58 17235.62 18747.58 3609.31 KBps [+]
IP Addresses 128949703.00 127873899.00 146874246.00 89399946.00 IP [+]
API Crude Oil Stock Change 1.41 -3.72 14.30 -12.40 BBL/1Million [+]
Crude Oil Rigs 663.00 668.00 1609.00 98.00 [+]
Corruption Index 71.00 75.00 78.00 71.00 Points [+]
Corruption Rank 22.00 16.00 24.00 14.00 [+]
Competitiveness Index 83.67 85.64 85.64 5.42 Points [+]
Competitiveness Rank 2.00 1.00 7.00 1.00 [+]
Ease of Doing Business 6.00 8.00 8.00 4.00 [+]
Steel Production 7407.00 7072.00 11951.00 3799.00 Thousand Tonnes [+]
Kansas Fed Manufacturing Index -5.00 8.00 37.00 -32.00 Index Points [+]
Mining Production 2.70 3.50 108.20 -28.80 percent [+]


United States Manufacturing PMI

In the United States, the Markit Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of 600 industrial companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change. This page provides the latest reported value for - United States Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Manufacturing PMI - actual data, historical chart and calendar of releases - was last updated on December of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
52.60 51.30 57.90 50.30 2012 - 2019 Monthly
SA




Country Last Previous
Australia 48.10 Nov/19 51.6
Brazil 52.90 Nov/19 52.2
Canada 51.40 Nov/19 51.2
China 51.80 Nov/19 51.7
Euro Area 46.90 Nov/19 45.9
France 51.70 Nov/19 50.7
Germany 44.10 Nov/19 42.1
India 51.20 Nov/19 50.6
Indonesia 48.20 Nov/19 47.7
Italy 47.60 Nov/19 47.7
Japan 48.90 Nov/19 48.4
Mexico 48.00 Nov/19 50.4
Netherlands 49.60 Nov/19 50.3
Russia 45.60 Nov/19 47.2
Saudi Arabia 58.30 Nov/19 57.8
Singapore 49.80 Nov/19 49.6
South Africa 47.70 Nov/19 48.1
South Korea 49.40 Nov/19 48.4
Spain 47.50 Nov/19 46.8
Switzerland 48.80 Nov/19 49.4
Turkey 49.50 Nov/19 49
United Kingdom 48.90 Nov/19 49.6
United States 52.60 Nov/19 51.3


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