The ISM Manufacturing PMI in the United States increased to 50.3 in March 2024, up from 47.8 in February and beating market expectations of 48.4. This marked the first expansion in the manufacturing sector after 16 months of contraction. There were positive trends in demand, with indicators such as the new orders Index (51.4 vs 49.2 in the previous month) and new export orders Index (51.6, the same as in February) showing expansion, while backlogs (at 46.3) remained in moderate contraction. Also, panelists’ companies notably increased their production levels (54.6 vs 48.4). On the other hand, employment numbers continued to decline (47.4 vs 45.9). Meanwhile, prices continued to rise moderately to 55.8 from 52.5, driven by unstable commodity costs. source: Institute for Supply Management

Business Confidence in the United States increased to 50.30 points in March from 47.80 points in February of 2024. Business Confidence in the United States averaged 52.91 points from 1948 until 2024, 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 April of 2024.

Business Confidence in the United States increased to 50.30 points in March from 47.80 points in February of 2024. Business Confidence 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.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-03-01 03:00 PM
ISM Manufacturing PMI
Feb 47.8 49.1 49.5 49.5
2024-04-01 02:00 PM
ISM Manufacturing PMI
Mar 50.3 47.8 48.4 48.3
2024-05-01 02:00 PM
ISM Manufacturing PMI
Apr 50.3

Components Last Previous Unit Reference
ISM Manufacturing Backlog of Orders 46.30 46.30 points Mar 2024
ISM Manufacturing Employment 47.40 45.90 points Mar 2024
ISM Manufacturing Inventories 48.20 45.30 points Mar 2024
ISM Manufacturing New Orders 51.40 49.20 points Mar 2024
ISM Manufacturing Prices 55.80 52.50 points Mar 2024
ISM Manufacturing Production 54.60 48.40 points Mar 2024
ISM Manufacturing Supplier Deliveries 49.90 50.10 points Mar 2024

Related Last Previous Unit Reference
ISM Manufacturing PMI 50.30 47.80 points Mar 2024
Chicago PMI 41.40 44.00 points Mar 2024
Dallas Fed Manufacturing Index -14.40 -11.30 points Mar 2024
S&P Global Manufacturing PMI 51.90 52.20 points Mar 2024
Manufacturing Production YoY 0.80 -0.50 percent Mar 2024
ISM Services PMI 51.40 52.60 points Mar 2024
Philadelphia Fed Manufacturing Index 3.20 5.20 points Mar 2024
Richmond Fed Manufacturing Index -11.00 -5.00 points Mar 2024

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
50.30 47.80 77.50 29.40 1948 - 2024 points Monthly
SA

News Stream
US Factory Activity Unexpectedly Expands: ISM
The ISM Manufacturing PMI in the United States increased to 50.3 in March 2024, up from 47.8 in February and beating market expectations of 48.4. This marked the first expansion in the manufacturing sector after 16 months of contraction. There were positive trends in demand, with indicators such as the new orders Index (51.4 vs 49.2 in the previous month) and new export orders Index (51.6, the same as in February) showing expansion, while backlogs (at 46.3) remained in moderate contraction. Also, panelists’ companies notably increased their production levels (54.6 vs 48.4). On the other hand, employment numbers continued to decline (47.4 vs 45.9). Meanwhile, prices continued to rise moderately to 55.8 from 52.5, driven by unstable commodity costs.
2024-04-01
ISM Manufacturing PMI Unexpectedly Falls
The ISM Manufacturing PMI in the United States fell to 47.8 in February 2024 from 49.1 in the previous month, firmly below market expectations of 49.5 to point to the 16th consecutive period of declines in manufacturing activity, erasing previous hopes of fresh traction in the sector. New orders swung to the contraction territory (49.2 vs 52.5 in January), driving production levels to likewise developments (48.4 vs 50.4) despite a softer decline in backlog of orders (46.3 vs 44.7). In the meantime, prices rose for a second straight month (52.5 vs 52.9), albeit at an eased pace, amid more expensive transportation equipment, chemicals, and computer and electronic products. In turn, the fresh downturn in consumer demand pressed the need for capacity and drove employment levels to decline for a fifth straight month (45.9 vs 47.1).
2024-03-01
ISM Manufacturing PMI Tops Estimates
The ISM Manufacturing PMI in the US improved to 49.1 in January 2024, the highest since October 2022, from 47.1 in December, and well above forecasts of 47. The reading continued to point to a contraction in the manufacturing sector, although at a much softer pace, as demand moderately improved, output remained stable and inputs are accommodative. New orders (52.5 vs 47) and production (50.4 vs 49.9) rebounded and inventories fell less (46.2 vs 43.9). Also, the supplier deliveries index indicated faster deliveries for the 16th straight month (49.1 vs 47) while the customers’ inventories index contracted further (43.7 vs 48.1), becoming more accommodative for future production. Meanwhile, employment fell slightly more (47.1 vs 47.5), backlogs of orders shrank faster (44.7 vs 45.3) and price pressures increased (52.9 vs 45.2)
2024-02-01