United States Manufacturing PMI

Last Release

Aug 31, 2023

Actual

47.9

Units In

Points

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
63.4 Jul 2021	36.1 Apr 2020	53.54 Points	2012-2023	Markit Economics

In the United States, the Markit Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of 600 industrial companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.

Latest Updates

The S&P Global US Manufacturing PMI increased to 48.9 in September of 2023 from 47.9 in August, beating forecasts of 48, preliminary estimates showed. The reading continued to point to another albeit smaller deterioration in the manufacturing performance, as contractions in output and new orders softened. Meanwhile, sufficient stocks of inputs and finished items, alongside still subdued demand, led firms to reduce their purchasing activity sharply again and firms continued to work through inventories in lieu of expanding their input buying, which contributed to a further improvement in supplier performance. At the same time, a reduced need to hold stock of finished goods led to the second-fastest drop in post-production inventories since November 2021. The pace of increase in staffing numbers accelerated and input price inflation quickened amid higher fuel expenses, while output prices rose only marginally.