The S&P Global US Manufacturing PMI was revised slightly lower to 48.4 in May of 2023 from a preliminary of 48.5 driven by a solid contraction in new orders amid muted demand conditions. Efforts to run down stocks were met by a steeper contraction in purchasing activity, hinting at lower production growth in the coming months. Sharply falling demand for inputs contributed to an unprecedented improvement in vendor performance. On the other hand, output and employment continued to increase, as firms expanded their capacity to fulfill existing backlogs of work amid improved supply conditions. On the price front, input costs fell for the first time since May 2020. The decrease in costs contributed to the slowest rise in selling prices for almost three years as firms also sought to become more competitive and boost new sales. Also, the degree of confidence was solid overall. source: Markit Economics

Manufacturing PMI in the United States averaged 53.68 points from 2012 until 2023, 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. United States Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.

Manufacturing PMI in the United States is expected to be 49.70 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 53.00 points in 2024 and 52.00 points in 2025, according to our econometric models.

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United States Manufacturing PMI



Related Last Previous Unit Reference
Services PMI 54.90 53.60 points May 2023
Business Confidence 46.90 47.10 points May 2023
Manufacturing PMI 48.40 50.20 points May 2023
Composite PMI 54.30 53.40 points May 2023
Manufacturing Production -0.90 -1.80 percent Apr 2023
Factory Orders 0.40 0.60 percent Apr 2023
Dallas Fed Manufacturing Index -29.10 -23.40 points May 2023
Philadelphia Fed Manufacturing Index -10.40 -31.30 points May 2023
NY Empire State Manufacturing Index -31.80 10.80 points May 2023
Chicago Fed National Activity Index 0.07 -0.37 points Apr 2023
Kansas Fed Manufacturing Index -2.00 -21.00 points May 2023

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.
Actual Previous Highest Lowest Dates Unit Frequency
48.40 50.20 63.40 36.10 2012 - 2023 points Monthly
SA

News Stream
US Manufacturing PMI Revised Slightly Lower: S&P Global
The S&P Global US Manufacturing PMI was revised slightly lower to 48.4 in May of 2023 from a preliminary of 48.5 driven by a solid contraction in new orders amid muted demand conditions. Efforts to run down stocks were met by a steeper contraction in purchasing activity, hinting at lower production growth in the coming months. Sharply falling demand for inputs contributed to an unprecedented improvement in vendor performance. On the other hand, output and employment continued to increase, as firms expanded their capacity to fulfill existing backlogs of work amid improved supply conditions. On the price front, input costs fell for the first time since May 2020. The decrease in costs contributed to the slowest rise in selling prices for almost three years as firms also sought to become more competitive and boost new sales. Also, the degree of confidence was solid overall.
2023-06-01
US Manufacturing PMI Below Forecasts
The S&P Global Flash US Manufacturing PMI declined to 48.5 in May of 2023 from 50.2 in April, well below forecasts of 50, preliminary estimates showed. The reading pointed to the biggest contraction in the manufacturing sector in three months and a renewed deterioration in operating conditions. The drop was mainly due to weak demand and a reduced need to hold inputs following improved delivery times and lower new order inflows. At the same time, output slowed while employment rose the most since September. Increased capacity aided firms’ efforts to process incomplete work. Backlogs fell sharply and at the fastest rate in three years. Meanwhile, input prices fell for the first time since May 2020 and supplier delivery times improved the most on record. Finally, optimism regarding the outlook for output over the coming 12 months was the highest for a year as firms sought to invest in new product development and hoped for an uptick in client demand.
2023-05-23
US Manufacturing PMI Revised Lower: S&P Global
The S&P Global Manufacturing PMI for the US was revised lower to 50.2 in April 2023 from a preliminary of 50.4, and compared to 49.2 in March. New orders returned to expansion territory and production increased at the fastest pace since May 2022 while new export orders contracted further. Nonetheless, anticipations of greater future sales led firms to ramp up employment, with the rate of job creation reaching the fastest since September 2022. Despite subdued customer orders and another drop in input buying, suppliers hiked their prices at a steeper rate. Cost burdens rose at the sharpest pace for three months, as selling prices also increased at an accelerated rate. Looking ahead, the degree of optimism rose to the strongest for three months and was broadly in line with the series long-run average.
2023-05-01