United States Business Confidence

Last Release

Aug 31, 2025

Actual

48.7

Units In

Points

Frequency

Monthly

Next Release

Oct 01, 2025

Time to Release

27 Days 16 Hours

Highest	Lowest	Average	Date Range	Source
77.5 Jul 1950	29.4 May 1980	52.83 Points	1948-2025	Institute for Supply Management

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.

Latest Updates

The ISM US Manufacturing PMI increased to 48.7 in August 2025 from 48.0 in July, though it fell short of market expectations of 49.0. The index signaled a sixth straight month of contraction, as a sharp drop in production (47.8 vs. 51.4) was only partly offset by a rebound in new orders (51.4 vs. 47.1). Employment continued to fall, though at a slightly slower pace (43.8 vs. 43.4). Customers’ inventories (44.6 vs. 45.7) and order backlogs (44.7 vs. 46.8) shrank more quickly, pointing to weaker demand conditions. The gauge for input price inflation eased to 63.7 from 64.8 but remained elevated overall. Survey respondents overwhelmingly pointed to tariffs as a drag on business conditions, citing higher costs, supply chain disruptions, and reduced competitiveness.