The ISM Manufacturing PMI rose by 0.9 points from the previous month to 49.3 in December of 2024, ahead of market expectations of 48.4. The result reflected the softest pace of contraction in the US manufacturing sector since the 50.3 recorded in March, which was the sole period of expansion in the industry since September of 2022. The gauge measuring new orders was at 52.5, reflecting the strongest level of demand for new goods in 11 months, suggesting that lower output for manufacturers may be close to bottoming despite the prolonged period of restrictive interest rates by the Fed. Consequently, production expanded (50.3) for the first time in six months. In turn, the gauge measuring prices faced by firms rose to 52.5, ahead of market expectations of 51.7, to maintain concerns of stubborn inflation. Firms noted a pickup in supplier deliveries and investments to undercut potential tariffs from the incoming Trump administration. source: Institute for Supply Management

Business Confidence in the United States increased to 49.30 points in December from 48.40 points in November of 2024. Business Confidence in the United States averaged 52.87 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 January of 2025.

Business Confidence in the United States increased to 49.30 points in December from 48.40 points in November of 2024. Business Confidence in the United States is expected to be 50.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-12-02 03:00 PM
ISM Manufacturing PMI
Nov 48.4 46.5 47.5 47.2
2025-01-03 03:00 PM
ISM Manufacturing PMI
Dec 49.3 48.4 48.4 48.5
2025-02-03 03:00 PM
ISM Manufacturing PMI
Jan 49.3

Components Last Previous Unit Reference
ISM Manufacturing Backlog of Orders 41.80 42.30 points Nov 2024
ISM Manufacturing Employment 45.30 48.10 points Dec 2024
ISM Manufacturing Inventories 48.40 48.10 points Dec 2024
ISM Manufacturing New Orders 52.50 50.40 points Dec 2024
ISM Manufacturing Prices 52.50 50.30 points Dec 2024
ISM Manufacturing Production 50.30 46.80 points Dec 2024
ISM Manufacturing Supplier Deliveries 50.10 48.70 points Dec 2024

Related Last Previous Unit Reference
ISM Manufacturing PMI 49.30 48.40 points Dec 2024
Dallas Fed Manufacturing Index 3.40 -2.70 points Dec 2024
Manufacturing Production YoY 0.00 -0.60 percent Dec 2024
Philadelphia Fed Manufacturing Index 44.30 -10.90 points Jan 2025
Richmond Fed Manufacturing Index -10.00 -14.00 points Dec 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
49.30 48.40 77.50 29.40 1948 - 2024 points Monthly
SA


News Stream
ISM Manufacturing PMI Rises More than Expected
The ISM Manufacturing PMI rose by 0.9 points from the previous month to 49.3 in December of 2024, ahead of market expectations of 48.4. The result reflected the softest pace of contraction in the US manufacturing sector since the 50.3 recorded in March, which was the sole period of expansion in the industry since September of 2022. The gauge measuring new orders was at 52.5, reflecting the strongest level of demand for new goods in 11 months, suggesting that lower output for manufacturers may be close to bottoming despite the prolonged period of restrictive interest rates by the Fed. Consequently, production expanded (50.3) for the first time in six months. In turn, the gauge measuring prices faced by firms rose to 52.5, ahead of market expectations of 51.7, to maintain concerns of stubborn inflation. Firms noted a pickup in supplier deliveries and investments to undercut potential tariffs from the incoming Trump administration.
2025-01-03
ISM Manufacturing PMI Beats Expectations
The ISM Manufacturing PMI for the US increased to 48.4 in November 2024 from 46.5 in October, beating forecasts of 47.5. The reading pointed to another albeit softer contraction in the manufacturing sector. New orders rebounded after seven months of contraction (50.4 vs 47.1) and production (46.8 vs 46.2), employment (48.1 vs 44.4) and inventories (48.1 vs 42.6) contracted less. Also, price pressures eased (50.3 vs 54.8) and the supplier deliveries index indicated faster deliveries (48.7 vs 52). "Demand remains weak, as companies prepare plans for 2025 with the benefit of the election cycle ending. Production execution eased in November, consistent with demand sluggishness and weak backlogs. Suppliers continue to have capacity, with lead times improving but some product shortages reappearing", Timothy Fiore, Chair of the ISM Manufacturing Business Survey Committee said.
2024-12-02
US Factory Activity Falls More Than Expected: ISM
The ISM Manufacturing PMI unexpectedly fell to 46.5 in October 2024 from 47.2 in September and below forecasts of 47.6. The reading pointed to the another contraction in the manufacturing sector and the worst since July 2023, as demand continues to be weak, output declined, and inputs stayed accommodative. Production (46.2 vs 49.8), inventories (42.6 vs 43.9) and backlog of orders (42.3 vs 44.1) fell faster and price pressures intensified (54.8 vs 48.3). Also, new orders (47.1 vs 46.1) and employment (44.4 vs 43.9) continued to decline but at a slower pace. Companies cited continuing efforts to right-size workforces to levels consistent with forecasted demand. Meanwhile, supplier deliveries improved (52 vs 52.2).
2024-11-01