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United States Business Confidence
Last Release
Sep 30, 2025
Actual
49.1
Units In
Points
Previous
48.7
Frequency
Monthly
Next Release
Nov 03, 2025
Time to Release
29 Days 9 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 rose to 49.1 in September 2025, up from 48.7 in August and slightly above market expectations of 49.0. The reading marked the seventh consecutive month of contraction, though it was the strongest in the current downturn. A rebound in production (51.0 vs. 47.8) was offset by a decline in new orders (48.9 vs. 51.4). Employment continued to fall, albeit at a slower pace (45.3 vs. 43.8), while customers’ inventories (43.7 vs. 44.6) and order backlogs (46.2 vs. 44.7) also contracted, pointing to continued softness in demand. The input prices gauge eased to 61.9 from 63.7 but remained elevated, indicating persistent cost pressures despite some moderation. Survey respondents cited tariffs, high costs, and weak demand as key challenges, with many holding off on capital projects, cutting costs, and facing delayed orders, particularly in machinery, metals, and semiconductors.
United States Business Confidence History
Last 12 readings