United States Business Confidence

Last Release

Dec 31, 2025

Actual

47.9

Units In

Points

48.2

Frequency

Monthly

Next Release

Feb 02, 2026

Time to Release

26 Days 14 Hours

Highest	Lowest	Average	Date Range	Source
77.5 Jul 1950	29.4 May 1980	52.82 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 US fell for a third consecutive month to 47.9 in December 2025, the lowest level since October 2024, compared to 48.2 in November and forecasts of 48.3. The reading showed the US manufacturing activity contracted at a faster rate, led by pullbacks in production (51 vs 51.4) and inventories (45.2 vs 48.9), following increases in November, pointing to recent economic uncertainty in manufacturing. Also, price pressures remained elevated (58.5 vs 58.5). On the other hand, improvements in new orders (47.7 vs 47.4), backlog of orders (45.8 vs 44) and new export orders (46.8 vs 46.2) and the customers’ inventories index remaining in ‘too low’ territory (43.3 vs 44.7) are positive signs for December, but several consecutive months of gains in these indicators are necessary for a longer-term recovery. In addition, employment contracted at a slower pace (44.9 vs 44).