The S&P Global US Manufacturing PMI edged down to 53.8 in July 2026 from 53.9 in June, falling short of market expectations of 54.3, according to the preliminary estimate. Despite the slight decline, the index remained close to its highest levels in more than four years. The modest slowdown reflected a sharp easing in production growth, which weakened to its slowest pace since March, while new orders expanded at the weakest rate in four months. Slower inventory accumulation, following exceptionally strong stockbuilding in May and June, also weighed on the headline PMI. These headwinds were partly offset by a renewed increase in factory employment and longer supplier delivery times. Unlike the delays typically associated with strong demand, the latest deterioration in supplier performance was primarily linked to supply disruptions stemming from the Middle East. source: S&P Global

Manufacturing PMI in the United States decreased to 53.80 points in July from 53.90 points in June of 2026. Manufacturing PMI in the United States averaged 53.05 points from 2012 until 2026, reaching an all time high of 63.40 points in July of 2021 and a record low of 36.10 points in April of 2020. 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.

Manufacturing PMI in the United States decreased to 53.80 points in July from 53.90 points in June of 2026. Manufacturing PMI in the United States is expected to be 50.70 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Manufacturing PMI is projected to trend around 51.00 points in 2027, according to our econometric models.



Related Last Previous Unit Reference
ISM Manufacturing PMI 53.30 54.00 points Jun 2026
Chicago Fed National Activity Index -0.02 -0.19 points Jun 2026
Dallas Fed Manufacturing Index 1.30 0.00 points Jul 2026
Factory Orders MoM -1.30 5.30 percent May 2026
Kansas Fed Manufacturing Index 17.00 19.00 points Jul 2026
Manufacturing Production YoY 1.10 1.50 percent Jun 2026
NY Empire State Manufacturing Index 15.60 5.70 points Jul 2026
Philadelphia Fed Manufacturing Index 41.40 10.30 points Jul 2026


United States Manufacturing PMI
The S&P Global US Manufacturing PMI is compiled by S&P Global from responses to questionnaires sent to purchasing managers in a panel of around 800 manufacturers. The headline figure is the Purchasing Managers’ Index (PMI), which is a weighted average of the following five indices: New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%) and Stocks of Purchases (10%). For the PMI calculation the Suppliers’ Delivery Times Index is inverted so that it moves in a comparable direction to the other indices. The index varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

News Stream
US Manufacturing Growth Eases Slightly in July
The S&P Global US Manufacturing PMI edged down to 53.8 in July 2026 from 53.9 in June, falling short of market expectations of 54.3, according to the preliminary estimate. Despite the slight decline, the index remained close to its highest levels in more than four years. The modest slowdown reflected a sharp easing in production growth, which weakened to its slowest pace since March, while new orders expanded at the weakest rate in four months. Slower inventory accumulation, following exceptionally strong stockbuilding in May and June, also weighed on the headline PMI. These headwinds were partly offset by a renewed increase in factory employment and longer supplier delivery times. Unlike the delays typically associated with strong demand, the latest deterioration in supplier performance was primarily linked to supply disruptions stemming from the Middle East.
2026-07-24
US Manufacturing PMI Revised Down in June
The S&P Global US Manufacturing PMI was sharply revised down to 53.9 in June 2026, significantly below the preliminary estimate of 55.7 and May’s final reading of 55.1. Despite the drop, the latest figure marked the eleventh straight month of expansion, indicating a solid improvement in operating conditions, though the weakest in three months. Output and new orders continued to rise, albeit at slower yet historically strong rates, driven by new product launches and pre-orders to hedge against rising prices. Input costs increased sharply due to higher raw material prices, though the rise was softer than May’s peak. Selling price inflation also eased to a three-month low. However, job cuts accelerated to the fastest pace since May 2020, the quickest outside the pandemic since October 2009. Business optimism for the year ahead also declined for the second consecutive month, hitting its lowest level since October 2025.
2026-07-01
US Manufacturing Growth Strongest Since 2022
The S&P Global US Manufacturing PMI increased to 55.7 in June 2026 from 55.1 in May, surpassing market forecasts of 54.8 and reaching its highest level since May 2022. This expansion signifies that factory business conditions have improved continuously since last August, with growth steadily accelerating from the recent low point in February. Driving this upward momentum, production growth accelerated at the fastest pace since July 2021, propelled by the largest surge in new orders since April 2022. Additionally, input inventories experienced their biggest increase since May 2025, marking the second steepest rise in the history of the survey. The PMI also benefited from the most significant lengthening of supplier delivery times recorded since August 2022. Conversely, the overall index gains were partially constrained by a substantial decline in employment, which represented the sharpest drop in manufacturing workforce levels since May 2020.
2026-06-23