The S&P Global US Manufacturing PMI fell to 51.6 in February of 2026 from 53.4 in the previous month, revised higher from the preliminary estimate of 51.6 but remaining below the initial market expectations of 52.6. Still, the result reflected a seventh straight expansion in the sector's activity. New orders continued to increase, albeit at a softer pace as goods producers noted that high prices, tariffs, and adverse weather conditions dented client demand. The panel also noted that sales were increasingly dependent on domestic clients as the fallout of tariffs and retaliation from the White House against key trading partners drove exports to decline for an eighth month. Consequently, companies pared the pace of hiring and employment levels rose only fractionally. Looking ahead, business optimism improved despite the tariffs and higher inflation for raw materials. source: S&P Global

Manufacturing PMI in the United States decreased to 51.60 points in February from 52.40 points in January of 2026. Manufacturing PMI in the United States averaged 53.03 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 51.60 points in February from 52.40 points in January of 2026. Manufacturing PMI in the United States is expected to be 52.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States 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 52.40 52.60 points Feb 2026
Chicago Fed National Activity Index 0.18 -0.21 points Jan 2026
Dallas Fed Manufacturing Index 0.20 -1.20 points Feb 2026
Factory Orders MoM -0.70 2.70 percent Dec 2025
Kansas Fed Manufacturing Index 10.00 -2.00 points Feb 2026
Manufacturing Production YoY 2.40 1.50 percent Jan 2026
NY Empire State Manufacturing Index 7.10 7.70 points Feb 2026
Philadelphia Fed Manufacturing Index 16.30 12.60 points Feb 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 Activity Revised Higher: S&P Global
The S&P Global US Manufacturing PMI fell to 51.6 in February of 2026 from 53.4 in the previous month, revised higher from the preliminary estimate of 51.6 but remaining below the initial market expectations of 52.6. Still, the result reflected a seventh straight expansion in the sector's activity. New orders continued to increase, albeit at a softer pace as goods producers noted that high prices, tariffs, and adverse weather conditions dented client demand. The panel also noted that sales were increasingly dependent on domestic clients as the fallout of tariffs and retaliation from the White House against key trading partners drove exports to decline for an eighth month. Consequently, companies pared the pace of hiring and employment levels rose only fractionally. Looking ahead, business optimism improved despite the tariffs and higher inflation for raw materials.
2026-03-02
US Manufacturing Growth Eases: S&P Global
The S&P Global US Manufacturing PMI fell to 51.2 in February from 52.4 in January, below expectations of 52.6, pointing to a seventh straight month of expansion but the weakest improvement in that period. Factory output growth slowed to its lowest level since July, while new orders edged down for the second time in three months, signaling softer demand. Employment growth nearly stalled, marking the smallest rise since last July as firms grew more cautious. Inventories of purchases declined for the first time since July and at the fastest pace in 13 months, reflecting lower input needs and supply constraints. Supplier delivery times lengthened to the most since October 2022 due to delays, shortages and adverse weather, highlighting ongoing pressures in supply chains despite moderating activity.
2026-02-20
US Manufacturing PMI Signals Stronger Expansion in January
The S&P Global US Manufacturing PMI increased to 52.4 in January 2026, above the preliminary estimate of 51.9 and up from December’s five-month low of 51.8. The latest reading points to a firmer pace of expansion in manufacturing activity, broadly in line with the survey’s long-run average. Output rose sharply, marking the strongest increase since last August and the joint-fastest pace since May 2022. New orders posted a modest rebound, though overall demand remained constrained by a seventh straight monthly decline in export orders, reflecting the impact of tariffs and persistent trade uncertainty. Hiring remained positive but job growth eased to a three-month low. On the inflation front, input cost pressures strengthened, while manufacturers raised selling prices at the fastest pace since August. Business confidence was unchanged, with geopolitical risks and rising costs continuing to weigh on the outlook.
2026-02-02