United States Manufacturing PMI

Last Release

Mar 31, 2024

Actual

51.9

Units In

Points

52.2

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	53.38 Points	2012-2024	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 was revised lower to 51.9 in March 2024 from a preliminary of 52.5, and compared to 52.2 in February. Signs of improving wider economic conditions and market demand fed through to a further expansion of US manufacturing production, with the rate of expansion hitting a 22-month high. The rate of job creation also quickened, but new order growth softened. Meanwhile, firms generally signalled a preference to draw down inventories amid sufficient holdings and efforts to improve cash flow. Purchasing activity and stocks of both inputs and finished goods were all scaled back following increases in February. On the inflation front, sharper rises in both input costs and output prices were registered. Also, firms remained confident that output will increase over the coming year, thanks to expectations for improving economic conditions, marketing efforts and improving capacity.