United States Business Confidence

Last Release

Apr 30, 2025

Actual

48.7

Units In

Points

Frequency

Monthly

Next Release

Jun 02, 2025

Time to Release

30 Days 21 Hours

Highest	Lowest	Average	Date Range	Source
77.5 Jul 1950	29.4 May 1980	52.85 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 Manufacturing PMI for the U.S. slipped to 48.7 in April 2025 from 49.0 in March, slightly above market expectations of 48. The reading signaled a second consecutive month of contraction in the manufacturing sector as output shrank more sharply (44.0 vs. 48.3) and prices rose further (69.8 vs. 69.4). Meanwhile, new orders declined at a slower pace (47.2 vs. 45.2), though new export orders fell more steeply amid ongoing tariff-related disruptions. Meanwhile, the rate of job losses moderated slightly (46.5 vs. 44.7). The ISM survey also revealed U.S. manufacturers were grappling with rising costs and margin pressure, while ongoing trade uncertainty was disrupting supply chains, causing shipping delays, complex duties, and frequent changes in cost structures. At the same time, they said customer demand was becoming more volatile, with some clients delaying orders or pushing tariff costs back onto manufacturers.